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Last Updated : Mar 13, 2020 03:50 PM IST | Source: Moneycontrol.com

Crude oil futures rises 4.64% in afternoon trade

The value of March and April contracts traded so far is Rs 2,965.47 crore and Rs 155.64 crore, respectively.


Crude oil futures gained to Rs 2,445 per barrel on March 13 as participants increased their long bet position tracking positive overseas cues. Oil futures in the domestic market is down 22.5 percent for the week on expectations of a flood of cheap supply after the fallout of OPEC+ with Saudi Arabia and the UAE pledging to raise output, waging a new price war.

In the futures market, crude oil for March delivery touched an intraday high of Rs 2,467 and an intraday low of Rs 2,316 per barrel on MCX. So far in the current series, black gold has touched a low of Rs 2,151 and a high of Rs 4,604.

Crude oil delivery for March gained Rs 108, or 4.64 percent, to Rs 2,436 per barrel at 14:45 hours IST with a business turnover of 17,805 lots.

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The crude for delivery in April contracts rose Rs 103, or 4.31 percent, to Rs 2,495 per barrel with a business volume of 4,932 lots.

The value of March and April contracts traded so far is Rs 2,965.47 crore and Rs 155.64 crore, respectively.

West Texas Intermediate crude gained 4.10 percent to $32.79 per barrel, while Brent crude, the international benchmark, rose 4.33 percent to $34.66 per barrel at 14:50 hours.

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First Published on Mar 13, 2020 03:50 pm
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