Crude oil futures rose by 0.71 per cent to Rs 3,402 per barrel today as speculators raised their bets amid a firm trend overseas.
In futures trading at the Multi Commodity Exchange, crude oil for delivery in far-month January next year was trading higher by Rs 24, or 0.71 per cent at Rs 3,402 per barrel in 291 lots.
On similar lines, crude for delivery in December edged up by Rs 20, or 0.60 per cent at Rs 3,335 per barrel in a business turnover of 4,989 lots.
Analysts said rise in crude oil futures was largely in tandem with a firming trend in global market where it extended gains amid hopes of an upcoming production-cut deal from the Organisation of the Petroleum Exporting Countries.
Meanwhile, the US benchmark West Texas Intermediate crude prices for delivery in January was up 74 cents to USD 48.98 a barrel and Brent crude rose 30 cents, to USD 49.20 a barrel.
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