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Crude oil futures recovered by 0.65% to Rs 3,876 per barrel today as speculators created positions on the back of rebound in Asian region.
At the Multi Commodity Exchange, crude oil prices for delivery in January traded higher by Rs 25, or 0.65%, to Rs 3,876 per barrel, with a business turnover of 266 lots.
Crude oil prices for December were also up by Rs 18, or 0.58%, to Rs 3,836 per barrel with a business volume of 2,359 lots.
Marketmen said the rise in crude oil futures was largely in tandem with a better trend in Asian trade where crude rebounded after falling sharply to fresh five-year lows in the previous session after OPEC cut its forecast for demand 2015 and US stockpiles saw surprise surge.
Meanwhile, West Texas Intermediate crude prices for January delivery rose 58 cents to $61.52 and Brent crude for January climbed 65 cents to $64.89 a barrel in mid-morning trade on the New York Mercantile Exchange.
