Crude Oil Price Prediction for Monday, 2 November 2026
- October 30, 2026
- Posted by: Ankit Jaiswal
- Category: Uncategorized
Crude Oil traded at Rs 9,901.00 per barrel on MCX, up 1.98%, on the 19 November 2026 futures. Nifty 50 rose 0.51%. India VIX rose 1.19% to 15.30. Next session is Monday, 2 November.
Quick Answer
The crude oil price prediction for monday is mildly constructive for Monday, 2 November 2026. Crude oil traded at Rs 9,901.00 per barrel on the 19 November futures, up 1.98 percent, and sits well above the previous close of 9,709. It closed within 8 rupees of the day’s high of 9,909, which shows buyers held control into the close.
This crude oil price prediction for monday follows a Friday, 30 October 2026 session in which crude oil futures on MCX rose 1.98 percent and closed close to the day’s high of 9,909, well above the previous close of 9,709.
Ankit Jaiswal, Senior Research Analyst at Univest, and Kunal Singla, Associate Director at Univest, are tracking crude oil price and global cues through the weekend, with the next trading session on Monday, 2 November 2026.
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What Friday Told Us
- Crude Oil traded at Rs 9,901.00 per barrel, up 1.98 percent on the 19 November 2026 futures, with a high of 9,909.00 and a low of 9,760.00.
- Nifty 50 rose 0.51 percent.
- India VIX rose 1.19 percent to 15.30.
Crude Oil Price Prediction for Monday: Key Levels
Crude Oil (19 November 2026 futures) traded between 9,760.00 and 9,909.00 on Friday, against a previous close of 9,709.00, and settled at 9,901.00. On the downside, 9,760.00 and 9,709.00 are the first reference levels to watch if the day’s move is tested. On the upside, 9,909.00 marks the nearest resistance. Univest’s analysts treat these as reference points drawn from Friday’s trading range, not as targets.
| Trend | Support | Resistance |
|---|---|---|
| Positive | 9,760.00, 9,709.00 | 9,909.00 |
MCX contracts keep trading into the evening, so the last traded price can differ from the figures above by the time you read this. The levels here use the 19 November 2026 contract.
For traders, this crude oil price prediction for monday is a framework for planning risk, with position size and stop levels left to the individual.
Key Drivers for Monday
- Crude oil rose 1.98 percent on the MCX 19 November contract, with a high of 9,909.00 and a low of 9,760.00.
- The price climbed about 141 from the low and finished near the best level of the day.
- India imports most of its crude, so higher oil prices usually add pressure on inflation and the rupee.
Ankit Jaiswal and Kunal Singla suggest revisiting this crude oil price prediction for monday after the first thirty minutes of Monday’s trade.
Anyone following this crude oil price prediction for monday should keep the next session’s opening range in view before reading too much into early moves.
Nothing in this crude oil price prediction for monday is a promise of returns, and every level quoted can fail.
What to Watch Alongside Crude Oil
Reliance Industries and Oil and Natural Gas Corporation are the large-cap stocks most often linked to crude moves. On Friday, Reliance fell 0.21 percent and ONGC fell 0.18 percent, so the equities did not follow crude higher.
How Friday’s Broader Session Unfolded
The Nifty 50 closed at 23,053.10, up 0.51 percent, with a high of 23,118.10 and a low of 22,905.10. The Sensex closed at 74,459.53, up 0.42 percent, while the Bank Nifty closed at 54,686.95, down 0.41 percent. India VIX, the market’s fear gauge, rose 1.19 percent to 15.30, after ranging between 14.47 and 15.70 during the session. The Nifty 50 gained about 2.0 percent over the week from last Friday’s close of 22,600.00 and is about 0.4 percent below its close of 23,146.15 on 16 October. The Nifty Midcap 50 fell 0.86 percent and the Nifty Next 50 fell 0.61 percent, so the broader market lagged the headline index. Nifty IT rose 2.32 percent and Nifty Pharma rose 1.55 percent, while Nifty PSU Bank fell 0.93 percent and Nifty Auto fell 0.87 percent. The trigger for the split between large and broader stocks was not independently confirmed.
Univest’s analysts suggest treating this crude oil price prediction for monday as a preparation note for Monday, 2 November 2026, rather than a signal that changes over the weekend.
Analyst View for Monday
Kunal Singla suggests that crude needs to hold above 9,760, Friday’s low, to keep the tone constructive, with 9,909 the resistance to clear.
Ankit Jaiswal flags that a close near the high is a firm signal, but weekend headlines can reverse a gain of this size quickly.
This crude oil price prediction for monday will be most useful when read alongside the support and resistance table above.
Why This Is Written for Monday
This crude oil price prediction for monday is written after the close on Friday, 30 October 2026, using Friday’s closing data, for the next regular trading session on Monday, 2 November 2026. Indian equity markets are closed on Saturday, 31 October, and Sunday, 1 November, so Friday’s closing prices remain the last cash-market data until trading resumes on Monday. Treat it as a briefing to prepare for that session, not a live call that updates over the weekend.
MCX futures trade late into Friday night and then pause for the weekend, so global moves after Friday’s close can open Monday with a gap.
A fair reading of this crude oil price prediction for monday is that Friday’s data sets the context, while Monday’s first hour decides how much of it carries forward.
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Risks to This Prediction
- Supply headlines from major producers over the weekend can gap crude sharply at the open.
- A pullback could drag prices back toward the previous close of 9,709.
- Higher crude can add to cost pressure for paints, aviation and oil marketing companies.
Readers comparing views should note that this crude oil price prediction for monday draws only on Friday’s closing numbers and the factors listed here.
As with any crude oil price prediction for monday, the opening minutes of Monday’s trade will confirm or challenge the levels discussed here.
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The crude oil price prediction for monday also depends on India VIX, so a fresh rise in volatility would weaken the case made here.
Conclusion
The crude oil price prediction for monday leans mildly constructive into 2 November 2026, with global cues and the US Dollar Index as the key variables to track. Ankit Jaiswal and Kunal Singla will revisit this view once Monday’s opening trade confirms direction.
Disclaimer: Investments in securities are subject to market risk. Read all related documents carefully before investing. The information provided here is for educational purposes only and does not constitute investment advice. Univest is a SEBI-registered investment adviser (Registration No. INH000013776). Past performance is not indicative of future returns.
Frequently Asked Questions
What is the crude oil price prediction for monday?
Ans. It is mildly constructive for 2 November 2026, after Crude Oil traded at Rs 9,901.00 per barrel on Friday, up 1.98 percent.
Why is this a prediction for Monday, 2 November 2026?
Ans. Because Indian equity markets are closed on Saturday and Sunday, so the next regular trading session after Friday, 30 October 2026, is Monday, 2 November 2026.
Why did crude oil rise on Friday?
Ans. Crude oil rose 1.98 percent on the MCX 19 November contract. The specific trigger was not independently confirmed.
How does crude oil affect Indian stocks?
Ans. Higher crude raises import costs and inflation concerns, which tends to weigh on oil marketing companies, paints and aviation, while upstream producers can benefit.
Is this a buy or sell call?
Ans. No. This is an educational outlook from Univest’s research team, not a buy or sell call. Traders should check any view against their own risk plan before acting.
