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Crude oil futures rise marginally on firm overseas cues

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Press Trust of India New Delhi
Crude oil futures edged Rs 10 higher to Rs 4,931 per barrel today after participants widened their bets, tracking a firm trend overseas.
At the Multi Commodity Exchange, crude oil for delivery in October contracts was trading higher by Rs 10, or 0.20 per cent, at Rs 4,931 per barrel with a business turnover of one lot.
Crude for September delivery also moved up Rs 7, or 0.14 per cent, to Rs 4,933 per barrel with a business volume of 474 lots.
Marketmen attributed the rise in crude oil futures to a firm trend in global market, extending solid gains from the previous session on a fall in US crude inventories and expected disruptions to supply from Iran and Venezuela.
Meanwhile, West Texas Intermediate crude prices rose 18 cents, or 0.26 per cent, to USD 69.69 a barrel, while Brent crude was up 16 cents, or 0.21 per cent, at USD 77.62 on the New York Mercantile Exchange.

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First Published: Aug 30 2018 | 11:10 AM IST

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