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Buoyed by a firming trend in the Asian trade in tandem with covering-up of short positions by speculators, crude oil prices recovered by 0.27 per cent to Rs 4,754 per barrel at the futures trade today.
At the Multi Commodity Exchange, crude oil for delivery in May rose Rs 13 or 0.27 per cent to Rs 4,754 per barrel with a trading volume of 476 lots. Similarly, April contract moved up by Rs 10 or 0.21 per cent to Rs 4,699 per barrel clocking a business volume of 6,993 lots.
Analysts said firming trend in the Asian trade, supported by overnight rally in the US market, influenced oil prices at the futures trade here.
Meanwhile, crude oil for delivery in May recovered by 0.28 cents to $104.55 per barrel in the Asian trade.
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