On the Multi Commodity Exchange, the crude contract for October traded higher by Rs 19, or 0.48 per cent, at Rs 3,993 per barrel.
On the Multi Commodity Exchange, crude contract for October traded higher by Rs 4, or 0.1 per cent, at Rs 4,005 per barrel.
Crude oil contracts for October delivery traded lower by Rs 35, or 0.86 per cent, at Rs 4,048 per barrel.
The price of crude oil has already reduced by a few dollars per barrel, Pradhan said.
Analysts said the rise in crude oil futures was largely in tandem with a firm trend in markets here.
The market capitalisation (m-cap) of BSE-listed companies eroded by Rs 2,72,593.54 crore to Rs 1,39,70,356.22 crore.
According to the report, when rise in oil prices are driven more by supply-side factors it is more damaging to large net oil importers.
The company has not given a specific timeline for the resumption of full output.
The country buys over two-thirds of its oil, mostly from the Middle East, making it most vulnerable to any rise in oil price.
Analysts said raising of bets by participants mainly kept crude prices to trade higher.