New Delhi, Oct. 16 -- Crude oil prices traded higher on the Multi Commodity Exchange (MCX) Thursday, following a rally in international oil prices, amid reports that India was preparing to cut Russian oil imports after pressure from the US.

MCX crude oil price was up 0.10% at Rs.5,150 per barrel. It hit an intraday high of Rs.5,195 level, rallying nearly a percent from its previous closing price. In the global markets, Brent crude oil price rose 0.58% to $62.24 a barrel, while US West Texas Intermediate (WTI) futures climbed 0.62% to $58.65.

Both contracts touched their lowest since early May in the previous session on US-China trade tensions and after the International Energy Agency warned of a big surplus next year as OPEC producers a...