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Crude oil futures up on firm Asian cues

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Press Trust of India New Delhi

Crude oil futures today rose by Rs 21, or 0.62 per cent, to Rs 3,435 per barrel at the Multi-Commodity Exchange in line with firming global trends.

The September contract rose Rs 21, or 0.62 per cent, to Rs 3,435 per barrel, with a turnover of 4,515 lots.

The oil contract for delivery in October edged higher by Rs 20, or 0.58 per cent, to Rs 3,481 per barrel, with a turnover of 280 lots.

The November contract traded Rs 19, or 0.57 per cent, to Rs 3,533 per barrel, with a turnover of 10 lots.

Analysts said fresh positions created by speculators amid a firming trend in Asian trade on weaker dollar helped crude to trade higher in futures trade here.

Meanwhile, crude oil for October delivery gained 27 cents to $742.79 a barrel on the New York Mercantile Exchange.

 

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First Published: Aug 26 2010 | 12:58 PM IST

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