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Crude oil futures trade higher on MCX

Crude oil futures traded higher on MCX as speculators enlarged their positions due to concerns in the Middle East, where the United States may reimpose sanctions on Iran, as well as tensions between Saudi Arabia and Iran. Further, worries about Venezuela's tumbling crude production also supported oil markets. Though, rising output in the United States, capped some gains on Crude oil prices.

The contract for April delivery was trading at Rs 4103.00, up by 0.81% or Rs 33.00 from its previous closing of Rs 4070.00. The open interest of the contract stood at 18157 lots.

The contract for May delivery was trading at Rs 4106.00, up by 0.64% or Rs 26.00 from its previous closing of Rs 4080.00. The open interest of the contract stood at 1543 lots on MCX.

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