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Crude oil futures rose by 0.77% to Rs 6,043 per barrel today as speculators created fresh positions amid a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in July traded higher by Rs 46, or 0.77%, to Rs 6,043 per barrel, with a business turnover of 4,478 lots.
The oil for delivery in August also moved up by Rs 39, or 0.65%, to Rs 6,048 per barrel, with a business volume of 522 lots.
Analysts attributed the rise in crude oil futures to a firming trend in Asia on bargain-hunting following sharp losses in the previous session that were stoked by easing Middle East supply concerns.
Meanwhile, West Texas Intermediate crude for August delivery rose 36 cents to USD 100.32 a barrel, while Brent North Sea crude for August was up 15 cents to USD 106.17 in late-morning trade on the New York Mercantile Exchange.
