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Crude oil futures soared by Rs 122 to Rs 3,216 per barrel today as speculators created fresh positions amid a firm trend in Asian markets.
On the Multi Commodity Exchange, crude oil for delivery in April gained Rs 122 or 3.94 per cent to Rs 3,216 per barrel with a business turnover of 5,596 lots.
Similarly, the oil for May delivery moved up by Rs 112 or 3.49 per cent to Rs 3,320 per barrel in a turnover of 583 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a firm trend in Asia after Saudi Arabian jets struck rebel targets in Yemen, with fears growing that a spiralling crisis in the country could threaten key crude producers in West Asia.
Meanwhile, West Texas Intermediate (WTI) crude oil for May delivery surged by $2.28 to USD 51.49, while Brent crude for May rose $2.46 to $58.94 per barrel in late0morning trade on the New York Mercantile Exchange.
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