Brent crude trading higher at $103.53/bbl

Crude oil prices rebounded by Rs 261 to Rs 8,981 per barrel in futures trade amid firm global trends and uncertainty over supply disruptions due to the ongoing conflict in West Asia.

Crude oil for March delivery increased 3 per cent in 12,183 lots. On Monday, it declined by Rs 332, or nearly 4 per cent, to close at Rs 8,720 per barrel.

The April contract also appreciated by Rs 305, or 3.52 per cent, to Rs 8,978 per barrel in 13,778 lots. In the previous session, it had dipped by Rs 270, or 3 per cent, to settle at Rs 8,673 per barrel on the MCX.