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Crude oil futures extend gains, up 1.31%

Press Trust of India  |  New Delhi 

prices advanced by 1.31 per cent to Rs 5,014 per barrel in futures market today as speculators increased positions, tracking a firm trend overseas.

At Multi Commodity Exchange, for delivery in August advanced by Rs 65, or 1.31 per cent, to Rs 5,014 per barrel in business turnover of 473 lots.

On similar lines, the for delivery in July was trading higher by Rs 63, or 1.25 per cent, to Rs 5,112 per barrel in 7,576 lots.

Analysts said, expansion of positions by participants in line with a firming trend overseas, where rose today on shortage of supply, with Brent crude leading the way as in are set to strike later in the day after failed wage talks, boosted sentiment in futures trade here.

Meanwhile, Intermediate rose by 54 cents, or 0.73 per cent, to USD 74.39, while Brent crude gained 62 cents, or 0.79 per cent, to USD 78.69 per barrel.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 11:15 IST