New Delhi, April 9 Crude oil prices rebounded by Rs 411 to Rs 9,272 per barrel in futures trading on Thursday, driven by firm global cues and fresh buying following recent sharp losses.
On the Multi Commodity Exchange, crude oil for the April delivery jumped by Rs 411, or 4.64 per cent, to Rs 9,272 per barrel in a trading volume of 8,601 lots.
The May contract also advanced by Rs 354, or 4.29 per cent, to Rs 8,604 per barrel in 6,575 lots.
Analysts said crude prices recovered amid renewed supply concerns and bargain buying following the previous session's sharp decline.
In international markets, West Texas Intermediate (WTI) for May delivery increased by USD 4.85, or 5.14 per cent, to USD 99.26 per barrel, while Brent for the June contract went up by USD 3.82, or 4.03 per cent, to USD 98.57 per barrel in New York.
According to analysts, crude oil prices rebounded as investors assessed developments in West Asia and weighed supply risks following reports of disruptions around the Strait of Hormuz.
