Crude oil futures up by 0.93 percent on positive overseas market signs

Crude oil prices rose by Rs 41 to Rs 4,430 per barrel in futures market Friday as speculators created fresh positions, taking positive cues from overseas markets.

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At the Multi Commodity Exchange, crude for delivery in April was trading higher by Rs 41, or 0.93 percent, at Rs 4,430 per barrel in a business turnover of 20,446 lots.

Analysts said speculative positions created by traders led to the rise in oil prices.

Meanwhile, West Texas Intermediate gained 0.47 percent to USD 63.88, while global benchmark Brent was up 0.41 percent to USD 71.12 per barrel.