Crude oil futures were trading higher during afternoon trade in the domestic market on Monday as traders held out hope for the success of OPEC’s output deal to help shrink the world’s glut of crude supplies. Oil prices got an added boost on news that the U.S. Senate has approved a bill that will extend sanctions against Iran’s missile development and weapons program that was not part of last year’s nuclear pact. At the MCX, crude oil futures for December 2016 contract is trading at Rs 3,547 per barrel, up by 1.34 per cent, after opening at Rs 3,488, against a previous close of Rs 3,500. It touched the intra-day high of Rs 3,554.

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