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Continuing its rising streak, crude oil futures prices rose by another 0.43% to Rs 6,488 per barrel today after participants indulged in creating speculative positions, tracking a firming trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in July traded Rs 28, or 0.43% higher at Rs 6,488 per barrel, with a business turnover of 2,020 lots.
The oil for August also moved up by Rs 25, or 0.39%, to Rs 6,467 per barrel, with a business volume of 65 lots.
Market analysts attributed the persistent rise in crude oil futures to a firming trend in Asia on continued violence in Iraq.
US benchmark West Texas Intermediate was up 31 cents to $107.14, while Brent crude gained 35 cents to $115.16 in mid-morning trade.
