Crude oil futures surged in morning trade as strong demand from China continued to lift sentiment, while stimulus expectations provided some tailwind to the market.
On MCX Crude oil Feb future is trading 1.11% higher to Rs. 4187 per barrel after opened at Rs. 4160 per barrel. Crude oil settled up by 0.75% at Rs.4141 per barrel on Friday as prices climbed to their highest levels in a year, boosted by the continued commitment of producers to hold back crude supply and positive signs of economic growth in the United States.