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Crude oil prices recovered by Rs 22 to Rs 5,116 per barrel at the futures trade today as speculators created fresh positions, tracking a firming trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in June rose Rs 22 or 0.43 per cent to Rs 5,116 per barrel with a business turnover of 971 lots. Similarly, the oil for delivery in May moved up by Rs 21 or 0.42 per cent to Rs 5,069 per barrel in 7,303 lots.
Market analysts attributed the rise in crude oil futures to a firming global trend as bargain-hunters moved in to capitalise on the recent slide in prices.
Meanwhile, crude oil for June delivery advanced 26 cents to $93.07 a barrel on the New York Mercantile Exchange.
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