New Delhi, March 2 Crude oil prices rose by Rs 504 on Monday, hitting a record high of Rs 6,596 per barrel in futures trading, amid escalating tensions in the Middle East.
On the Multi Commodity Exchange, crude oil for April delivery rose by Rs 504, or 8.27%, to Rs 6,596 per barrel in 10,530 lots.
Analysts said the escalating tensions in the Middle East were keeping crude oil prices high in the futures market.
Globally, West Texas Intermediate crude was trading 5.55% higher at USD 70.74 per barrel, while Brent crude rose 5.86% to USD 77.14 per barrel in New York.
