Crudeoil on MCX settled up 1.65% at 2949 resuming their rally from last week, as a raging wildfire cut production from Canada's oil sands region and escalating Libyan violence raised more worries about immediate oil supplies than a longer-term glut.

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US benchmark West Texas Intermediate for delivery in June was down 20 cents, or 0.45 per cent, at USD 44.12 and Brent crude for July dipped 18 cents, or 0.40 per cent, to USD 44.83.

 MCX, crude oil futures for May 2016 contract were trading at Rs. 2,930 per barrel, down by 0.64 per cent, after opening at Rs. 2,930 against the previous closing price of Rs. 2,949. It touched the intra-day low of Rs. 2,915 till the trading. (At 11:00 AM today).