Crude oil futures traded marginally higher on MCX after participants widened their bets tracking firming trend overseas where it bounced back and surged after OPEC producer Saudi Arabia pledged to lower crude exports in August, while Nigeria agreed to curb production.
The contract for August delivery was trading at Rs 3008.00, up by 0.37% or Rs 11.00 from its previous closing of Rs 2997.00. The open interest of the contract stood at 20924 lots.
The contract for September delivery was trading at Rs 3032.00, up by 0.4% or Rs 12.00 from its previous closing of Rs 3020.00. The open interest of the contract stood at 1509 lots on MCX.