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Crude oil futures up 0.7% on overseas cues

Weak economic data from China affected crude oil futures here

Sanjeeb Mukherjee New Delhi
Crude oil futures for May recovered by Rs 31, or 0.65%, to Rs 4,807 per barrel in 2,196 lots.     

At the Multi Commodity Exchange (MCX), the June contract moved up by Rs 39, or 0.60%, to Rs 4,841 per barrel in 136 lots.

Prices rose as speculators created fresh positions.

Firming trend in Asia as traders bought up cheap crude following a price plunge last week due to weak economic data from China, world's biggest energy-consuming nation, affected the trade.

On the New York Mercantile Exchange (NYMEX), the May contract added 29 cents to $88.30 a barrel.
 

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First Published: Apr 22 2013 | 2:03 PM IST

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