Crude oil rose 0.52 per cent to Rs 3,500 per barrel at the futures trade as speculators engaged in widening positions, taking positive cues from Asian markets.

At the Multi Commodity Exchange, crude oil for delivery in May was trading higher by Rs 18 or 0.52 per cent at Rs 3,500 per barrel in a business turnover of 63 lots.

Likewise, the oil for delivery in April gained Rs 16 or 0.46 per cent to Rs 3,464 per barrel in 1,647 lots.

Analysts said enlarging of positions by traders after crude prices rose overseas influenced oil prices at the futures trade.

Oil prices rose, putting crude futures on track for their longest streak of gains since August 2016, as Saudi Arabia was reported to be lobbying OPEC and other producers to extend a production cut beyond the first half of 2017.

Meanwhile, West Texas Intermediate gained 11 cents, or 0.21 per cent to USD 53.51 while global benchmark Brent advanced 15 cents, or 0.27 per cent to USD 56.38 a barrel. PTI SUN

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