Crude oil futures were trading higher during afternoon trade in the domestic market on Wednesday as investors and speculators extended their positions in the energy commodity on signs of a global oil inventories tightening. Further, an unplanned production outage at the Buzzard oil field in the North Sea, too supported the upmove in the crude oil prices.
At the MCX, crude oil futures for April 2017 contract is trading at Rs 3348 per barrel, up by 0.69 per cent, after opening at Rs 3339, against a previous close of Rs 3325. It touched the intra-day high of Rs 3356 (at 12:57 hours).
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