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Crude oil futures rose 0.22 per cent to Rs 3,728 per barrel today as speculators created fresh bets amid a firm trend in Asia.
On the Multi Commodity Exchange, crude oil for delivery in June traded higher by Rs 8 or 0.22 per cent to Rs 3,728 per barrel with a business turnover of 950 lots.
Similarly, the oil for delivery in July moved up Rs 7 or 0.19 per cent to Rs 3,776 per barrel with a business volume of 44 lots.
Analysts attributed the price rise to a firm trend in Asia, but the gains were capped before a key meeting of the Organization of Petroleum Exporting Countries (OPEC), which is expected to maintain its production levels despite an oversupplied global market.
Meanwhile, West Texas Intermediate crude for July delivery edged up 3 cents to $58.03, while Brent for July delivery gained 13 cents to $62.16 per barrel in late-morning trade on the New York Mercantile Exchange.
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