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Crude oil futures prices rose 0.72% to Rs 3,764 per barrel today as speculators got down to enlarging positions, tracking a firming trend in Asia.
Crude oil for delivery in June traded higher by Rs 27, or 0.72%, at Rs 3,764 per barrel, with a business turnover of 1,241 lots at Multi Commodity Exchange.
The oil for July also moved up Rs 24, or 0.63%, to Rs 3,821 per barrel, with a business volume of 36 lots.
Analysts said the rise in crude oil prices in futures trade is attributed to rebound in Asian trade following steep losses in the previous session, but gains were capped by a strong dollar and persistent concerns about a global supply glut.
Meanwhile, West Texas Intermediate (WTI) crude prices for July delivery rose 47 cents to $58.46 while Brent crude for July gained 46 cents to $64.48 a barrel in late-morning trade on the New York Mercantile Exchange.
