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Crude oil futures prices rose 0.64 per cent to Rs 5,832 per barrel today as speculators created fresh positions, tracking a firm trend in Asia.
On the Multi Commodity Exchange, crude oil for delivery in July traded higher by Rs 37 or 0.64 per cent at Rs 5,832 per barrel with a business turnover of 13,470 lots.
Similarly, the oil for August delivery also moved up by Rs 35 or 0.6 per cent to Rs 5,844 per barrel with a business volume of 1,294 lots.
Market analysts said the rise in crude oil futures was attributed to a firm trend in Asia as a weak US data suggested that the Federal Reserve will hold off on ending its aggressive bond-buying programme, while concerns over China’s liquidity crisis also eased.
Meanwhile, crude oil for August delivery added 12 cents to $95.62 a barrel on the New York Mercantile Exchange.
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