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21-May2018

Crude oil futures trade higher on MCX

Crude oil futures traded higher on MCX, as speculators built fresh positions after oil prices rose in Asia in reaction to news that China and the US had put a looming trade war 'on hold'. Further, strong demand amid ongoing supply cuts led by producer cartel Organization of Petroleum Exporting Countries (OPEC) too supported crude oil prices' uptrend.

The contract for May delivery was trading at Rs 4891.00, up by 0.74% or Rs 36.00 from its previous closing of Rs 4855.00. The open interest of the contract stood at 15801 lots.

The contract for June delivery was trading at Rs 4914.00, up by 0.82% or Rs 40.00 from its previous closing of Rs 4874.00. The open interest of the contract stood at 10048 lots on MCX.


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