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Crude oil futures closed lower in the domestic market on Wednesday with prices pressured by data showing a third-consecutive weekly increase in U.S. crude inventories. However, successful efforts by major crude producers to cut back output as part of an agreement that went into effect at the start of the year kept losses in check. At the MCX, crude oil futures for February 2016 contract closed at Rs 3632 per barrel, down by 0.33 per cent, after opening at Rs 3631, against a previous close of Rs 3644. It touched the intra-day low of Rs 3588.
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