Crude oil futures surged by Rs 66 to Rs 3,923 per barrel today as speculators engaged in creating positions amid a firm trend overseas.
On the Multi Commodity Exchange, crude oil for delivery in May shot up by Rs 66 or 1.71 per cent to Rs 3,923 per barrel with a business turnover of 3,292 lots.
The oil for delivery in June also climbed by Rs 62 or 1.57 per cent to Rs 4,010 per barrel in a turnover of 250 lots.
Analysts said the rise in crude oil futures was largely in tandem with a firm trend in Asian trade on signs the US supply glut is easing.
Meanwhile, West Texas Intermediate crude oil prices for June delivery rose $1.29 to $61.69, while Brent crude for June was up $1.01 or 1.5 per cent at $68.53 per barrel at the New York Mercantile Exchange.