Crude oil Updates - Crude oil prices rose by 2.82 per cent on Friday as investors looked for bargains. Ahead, rig count data from Baker Hughes will set the tone in the U.S. market. Prices also rose as dovish comments from Mario Draghi on the possibility of further easing measures from the European Central Bank helped rally global equities, providing energy traders with an opportunity to cover record short positions.
At the MCX, crude oil futures for January 2016 contract were trading at Rs. 2,114 per barrel, up by 2.82 per cent, after opening at Rs. 2,040 against the previous closing price of Rs. 2,055. It touched the intra-day high of Rs. 2,116 till the trading.
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