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Crude oil futures traded higher by 0.76 per cent at Rs 3,858 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 January rose Rs 29 or 0.76 per cent to Rs 3,858 per barrel in a business turnover of 4,526 lots. Likewise, the oil for delivery in far-month February was trading higher by Rs 27 or 0.7 per cent at Rs 3,867 per barrel in 132 lots.
Analysts said speculators widened their positions on the back of a firm trend overseas, where crude prices jumped to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia.
Meanwhile, West Texas Intermediate gained 0.97 per cent to $60.42 per barrel, while Brent crude, the international benchmark, rose 1.07 per cent to $66.87.
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