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Crude oil futures prices rose by 0.66 per cent to Rs 5,025 per barrel today as speculators created fresh positions amid a firm trend in Asia.
At the Multi-Commodity Exchange, crude oil for delivery in January gained Rs 33, or 0.66 per cent, to Rs 5,025 per barrel, with a business turnover of 8,575 lots.
The oil for February delivery moved up by Rs 31, or 0.61 per cent, to Rs 5,076 per barrel, with a business volume of 1,258 lots.
Marketmen attributed the rise in crude oil futures to a firming trend in Asia on hopes of a last-minute deal to avert the US fiscal cliff.
Meanwhile, crude oil for February delivery advanced by 42 cents to $91.29 a barrel on the New York Mercantile Exchange.
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