India, March 17 -- Crude oil prices rebounded by Rs 261 to Rs 8,981 per barrel in futures trade on Tuesday, supported by firm global trends and concerns over potential supply disruptions amid the ongoing West Asia conflict.
On the Multi Commodity Exchange (MCX), March delivery contracts rose Rs 261, or 3 per cent, to Rs 8,981 per barrel, with a turnover of 12,183 lots. In the previous session, prices had declined by Rs 332, or nearly 4 per cent, to settle at Rs 8,720 per barrel.
The April contract also gained Rs 305, or 3.52 per cent, to Rs 8,978 per barrel in 13,778 lots, after falling Rs 270, or around 3 per cent, in the previous session.
Market participants attributed the rebound to tightening supply concerns and firm global cues, whi...