Oil companies in the Gulf of Mexico had cut more than 1 million barrels per day (bpd) of output.
Analysts said the rise in crude oil futures was largely in tandem with a firming trend in global trade.
Crude oil contracts for July delivery traded lower by Rs 35, or 0.88 per cent, at Rs 3,943 per barrel.
On the Multi Commodity Exchange, crude for delivery in July contracts was trading lower by Rs 58 at Rs 3,889.
At the Interbank Foreign Exchange, the rupee opened at 69.02 then fell to 69.05 against the US dollar.
On MCX, crude oil for delivery in July contracts was trading higher by Rs 64, to Rs 4,100 per barrel.
Oil prices have been squeezing higher on escalating tensions in the Middle East.
On Multi Commodity Exchange, crude oil for delivery in July contracts was trading higher by Rs 33, to Rs 4,050 per barrel.
- « First
- « Previous
- Next »
- Last »
1 of 1