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Crude oil futures prices rose over 1% to Rs 6,125 per barrel today as speculators created fresh positions amid a firm trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in April gained Rs 62, or 1.02%, to Rs 6,125 per barrel, with a business turnover of 3,199 lots.
The oil for May delivery moved up by Rs 55, or 0.91%, to Rs 6,106 per barrel, with a business volume of 206 lots.
Market participants said the rise in crude oil futures was attributed to a firming trend in Asian trade after stockpiles declined at a key US trading hub, indicating stronger demand, and on news of a major pipeline expansion in the US.
Meanwhile, West Texas Intermediate crude oil for April delivery advanced by 13 cents to USD 100.50 a barrel in mid- morning trade on the New York Mercantile Exchange.
