Crude oil futures traded higher on MCX, as speculators indulged in enlarging positions, with Brent crude creeping ever closer to $80 per barrel, a level it has not seen since November 2014, as supplies tighten, while demand remains strong.
The contract for May delivery was trading at Rs 4857.00, up by 0.77% or Rs 37.00 from its previous closing of Rs 4820.00. The open interest of the contract stood at 19551 lots.
The contract for June delivery was trading at Rs 4873.00, up by 0.68% or Rs 33.00 from its previous closing of Rs 4840.00. The open interest of the contract stood at 5079 lots on MCX.