Crude oil prices shot up by Rs 57 or 1.75 per cent to Rs 3,315 per barrel in futures trade today on increased buying in tandem with a firming global trend.
Trading sentiment turned bullish after oil prices rebounded in the Asian trade, after taking cues from strong performances in regional equity markets.
At the Multi Commodity Exchange, crude oil for June contract shot up by Rs 57, or 1.75 per cent to Rs 3,315 per barrel, with an open interest of 24,357 lots.
Similarly, the oil for delivery in July contract jumped by Rs 47, or 1.41 per cent to Rs 3,382 per barrel, with a business volume of 3,177 lots.
Marketmen said increased buying by speculators on the back of rising trend in overseas markets, led to a rise in crude oil prices at futures trade.
Meanwhile, crude for delivery in July gained 62 cents to $69.37 a barrel in New York.
