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‘Rising crude oil prices pose headwinds for Indian markets’
Crude oil prices increased by Rs16 to Rs5,836 per barrel in futures trade as participants widened their positions following a firm spot demand. On MCX, crude oil for December delivery traded higher by Rs16 or 0.27 per cent at Rs5,836 per barrel in 18,679 lots.
Analysts said raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate (WTI) crude oil was up by 0.43 per cent to $69.68 per barrel, and Brent crude traded 0.48 per cent higher at $74.66 per barrel in New York.
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