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Crude oil futures surged by Rs 66 to Rs 3,923 per barrel today as speculators engaged in creating positions amid a firm trend overseas.
In futures trading at the Multi Commodity Exchange, crude oil for delivery in May shot up by Rs 66, or 1.71 per cent, to Rs 3,923 per barrel, with a business turnover of 3,292 lots.
The oil for delivery in June also climbed by Rs 62 or 1.57 per cent to Rs 4,010 per barrel in a turnover of 250 lots.
Analysts said the rise in crude oil futures was largely in tandem with a firming trend in Asian trade on signs the US supply glut is easing.
Meanwhile, West Texas Intermediate crude prices for June delivery rose USD 1.29 to USD 61.69, while Brent crude for June was up USD 1.01 or 1.5 per cent at USD 68.53 per barrel at the New York Mercantile Exchange.
