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Crude oil futures rise 0.78% on positive Asian cues
Crude oil prices rose 0.78 per cent to Rs 3,744 per barrel Friday as speculators created fresh positions amid positive cues from Asian markets.
Internationally with oil rising about 20 per cent from 17-month lows at the end of December, the prices were also supported by comments from US Federal Reserve Chairman Jerome Powell on Thursday, say reports.
At the Multi Commodity Exchange, crude for delivery in February was trading higher by Rs 29, or 0.78 per cent, to Rs 3,744 per barrel in a business turnover of 2,045 lots.
Meanwhile, Brent crude prices dropped sharply to trade at one-year low of USD 61.22 per barrel amid concern about rising global supplies.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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