Crude oil futures surged on MCX as international Brent crude climbed above $111 per barrel, following drone attacks on the UAE and Saudi Arabia and renewed warnings from US President Donald Trump of more actions against Iran, which have heightened fears of a wider and prolonged regional war.
The contract for May delivery was trading at Rs 10359.00, up by 2.77% or Rs 279.00 from its previous closing of Rs 10080.00. The open interest of the contract stood at 6936 lots.
The contract for June delivery was trading at Rs 9961.00, up by 2.85% or Rs 276.00 from its previous closing of Rs 9685.00. The open interest of the contract stood at 10552 lots on MCX.