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Crude oil futures rose 0.94 per cent to Rs 3,220 per barrel today as speculators created fresh positions amid a firm trend in Asia.
On the Multi Commodity Exchange, crude oil for delivery in April gained Rs 30 or 0.94 per cent to Rs 3,220 per barrel with a business turnover of 381 lots.
Similarly, the oil for March delivery moved up by Rs 26 or 0.85 per cent to Rs 3,087 per barrel with a business volume of 3,762 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a rebound in Asian trade, following steep losses in the previous session, but the gains were capped by a strengthening US dollar and persistent concerns about a global supply glut.
Meanwhile, West Texas Intermediate crude prices climbed 58 cents to $48.87, while Brent rose 31 cents to $56.70 a barrel in late-morning trade on the New York Mercantile Exchange.
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