On the Multi Commodity Exchange, crude oil for delivery in March traded higher by Rs 126, or 7.78 per cent, to Rs 1,745 per barrel in 69,680 lots.
Crude oil for April delivery was up by Rs 104, or 5.98 per cent, to Rs 1,843 per barrel with an open interest of 17,811 lots.
Analysts said raising of bets by participants kept crude prices higher in futures trade here.
Globally, West Texas Intermediate was trading higher by 12.52 per cent at USD 22.92 per barrel and, Brent crude was up by 5.02 per cent to USD 26.13 per barrel in New York. VHP SHWSHW