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Crude oil futures recover 0.97 per cent on global cues

Press Trust of India  |  Mumbai 

prices rose 0.97 per cent to Rs 4,149 per barrel in futures market Monday as speculators created fresh bets, taking positive cues from the Asian markets.

At the (MCX), for delivery in December was trading higher by Rs 40, or 0.97 per cent at Rs 4,149 per barrel in a business turnover of 2,067 lots.

Analysts said, speculators built fresh positions after recovered some ground in on expectations the Organization of the Petroleum Exporting Countries(OPEC) would cut output, supported the recovery in crude prices at futures trade here.

Meanwhile, Intermediate gained 1.24 per cent to USD 57.38 a barrel, while Brent crude rose 0.82 per cent, to USD 67.31 a barrel.

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

First Published: Mon, November 19 2018. 12:10 IST