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Crude oil futures edged higher by Rs 3 to Rs 3,045 per barrel today as speculators went about creating positions amid a firm trend overseas.
In futures trading at the Multi Commodity Exchange, crude oil for delivery in November was up by Rs 3, or 0.10%, at Rs 3,045 per barrel, with a business turnover of 122 lots.
The oil for delivery in October gained Rs 2, or 0.07%, to Rs 2,985 per barrel in a turnover of 2,443 lots.
Analysts said the rise in crude oil futures was largely in tandem with a firming trend in Asia after taking a hit in the previous session in response to a mixed US stock report.
Meanwhile, West Texas Intermediate crude prices rose $44.88 while Brent added $0.67% to $48.07 per barrel at the New York Mercantile Exchange.
