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Crude oil futures surged Rs 43 to Rs 3,179 per barrel today as speculators widened their positions after it rebounded in global market.
At the Multi Commodity Exchange, crude oil for delivery in March shot up Rs 43 or 1.37 per cent to Rs 3,179 per barrel with a business turnover of 5,693 lots.
The oil for delivery in April also rose Rs 40 or 1.25 per cent to Rs 3,233 per barrel in a turnover of 356 lots.
Analysts said the rise in crude oil futures was largely in tandem with a firm trend overseas where it recouped some losses after a slump in US trading fuelled by oversupply concerns.
Meanwhile, West Texas Intermediate crude oil rose 1.7 per cent to $48.53, while Brent was up 1.43 per cent at $51.65 a barrel at the New York Mercantile Exchange.
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