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Crude oil futures traded higher by 0.62 per cent at Rs 4,090 per barrel at the futures market as speculators built up positions owing to positive cues from global market.
At the Multi Commodity Exchange, crude oil for delivery in February rose Rs 25 or 0.62 per cent to Rs 4,090 per barrel in a business turnover of 314 lots. The oil for delivery in January was trading higher by Rs 23 or 0.57 per cent at Rs 4,088 per barrel in 3,312 lots.
Analysts said speculators widened their positions on the back of a firm trend overseas. The West Texas Intermediate gained 0.39 per cent to $64.55 per barrel, while Brent crude rose 0.11 per cent to $69.95.
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