Crude oil futures closed higher in the domestic market on Tuesday rebounding from a Brexit-fueled selloff that sent crude futures to a seven-week low on concerns of a slowdown in the global economy.
The threat of a union strike by Norwegian oil-and-gas workers and weakness in the U.S. dollar also provided support to prices.
At the MCX, Crude oil futures for July 2016 contract closed at Rs. 3,236 per barrel, up by 3.19 per cent, after opening at Rs. 3,146, against the previous closing price of Rs. 3,136. It touched the intra-day high of Rs. 3,256.