Crude oil futures traded higher on MCX as traders built up positions, tracking a positive trend overseas where oil markets were receiving general support due to a sense that there were high risks of supply disruptions, including a potentially spreading conflict in the Middle East, renewed US sanctions against Iran and falling output as a result of political and economic crisis in Venezuela.
The contract for April delivery was trading at Rs 4367.00, up by 0.37% or Rs 16.00 from its previous closing of Rs 4351.00. The open interest of the contract stood at 16591 lots.
The contract for May delivery was trading at Rs 4374.00, up by 0.3% or Rs 13.00 from its previous closing of Rs 4361.00. The open interest of the contract stood at 7421 lots on MCX.