Crude oil futures traded higher on MCX as investors and speculators booked fresh positions in the energy commodity after Saudi Arabia, OPEC's biggest producer of oil, said that it is open to discussing measures to stabilizing the market, easing worries over a global supply glut.
The contract for August delivery was trading at Rs 3061.00, up by 3.03% or Rs 90.00 from its previous closing of Rs 2971.00. The open interest of the contract stood at 24343 lots.
The contract for September delivery was trading at Rs 3119.00, up by 2.90% or Rs 88.00 from its previous closing of Rs 3031.00. The open interest of the contract stood at 3733 lots on MCX.