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Crude oil prices rose 0.23 per cent to Rs 3,900 per barrel at the futures trade as speculators widened their bets, taking positive cues from global market.
At the Multi Commodity Exchange, crude oil for delivery in February rose Rs 9 or 0.23 per cent to Rs 3,900 per barrel in a business turnover of 90 lots. Likewise, the oil for delivery in the current month was trading higher by Rs 8 or 0.21 per cent at Rs 3,895 per barrel in 1,289 lots.
Analysts said speculators widened positions on account of output cut by OPEC and Russia, freezing weather in the US which has fuelled demand for heating oil and falling crude oil inventories.
Meanwhile, West Texas Intermediate crude gained 0.26 per cent to $61.60 per barrel, while Brent crude, international benchmark, rose 0.19 per cent to $67.75.
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