Crude Oil Futures Rise On Upbeat Economic Sentiment

Crude oil futures were trading higher during afternoon trade in the domestic market on Monday as investors and speculators extended their positions in the energy commodity on upbeat sentiment about economic prospects in Asia and Europe, that diminished higher US rig count worries.

However, a stronger US dollar pressured crude oil prices at futures trade. At the MCX, crude oil futures for April 2017 contract is trading at Rs 3295 per barrel, up by 0.33 per cent, after opening at Rs 3276, against a previous close of Rs 3284. It touched the intra-day high of Rs 3299.

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Suhani Verma

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