Crude oil prices up on firm global cues

Crude oil prices rose 0.95 percent to Rs 3,920 per barrel in futures trade on Wednesday as speculators raised their exposure, tracking a rebound in the global market. On the Multi Commodity Exchange, crude contracts for September delivery went up by Rs 37, or 0.95 percent, to Rs 3,920 per barrel in a business turnover of 19,091 lots.

Analysts said the rise in crude oil futures was largely in tandem with a firm trend in the global market. Meanwhile, West Texas Intermediate rose 0.48 percent to USD 54.20. However, international benchmark Brent fell 0.38 percent to USD 58.48 per barrel at the New York Mercantile Exchange.

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