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Crude oil futures firm up on overseas cues

Indian Express 2020-03-25 16:55:34

By:

PTI

| New Delhi |

Published: March 25, 2020 4:55:34 pm Analysts said raising of bets by participants kept crude prices higher in futures trade here. (File photo)

Crude oil prices on Wednesday rose 5.5 per cent to Rs 1,976 per barrel as participants widened their positions tracking a positive trend overseas.

On the Multi Commodity Exchange, crude oil for delivery in April traded higher by Rs 103, or 5.5 per cent, to Rs 1,976 per barrel in 27,659 lots.

Crude oil for May delivery was up by Rs 105, or 5.04 per cent, to Rs 2,187 per barrel with an open interest of 351 lots.

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

Globally, West Texas Intermediate was trading higher by 3.79 per cent at USD 24.92 per barrel and, Brent crude was up by 3.24 per cent to USD 28.03 per barrel in New York.



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