Crude Oil Price Prediction for Tomorrow, Friday 10 July 2026: MCX Crude Oil 20 July futures at Rs 7,036 as Buyers Defend Support
- July 9, 2026
- Posted by: Kunal Singla
- Category: News
Crude Oil Price prediction for tomorrow, Friday 10 July 2026: MCX Crude Oil 20 July futures Rs 7,036 per barrel, -0.52%. Day range Rs 6,914 to Rs 7,138. Support Rs 6,910. Resistance Rs 7,140.
The crude oil price prediction for tomorrow, Friday 10 July 2026, is anchored by today’s MCX session, where the MCX Crude Oil 20 July futures contract eased modestly, giving back a small part of Wednesday’s sharp 6.71 percent surge as markets digested the Strait of Hormuz tensions without fresh escalation. The contract traded at Rs 7,036 per barrel, down 0.52 percent, within a day range of Rs 6,914 to Rs 7,138, and these boundaries frame the crude oil price prediction for tomorrow.
Ankit Jaiswal, Senior Research Analyst at Univest, and Kunal Singla, Associate Director at Univest, have shared their crude oil price prediction for tomorrow for Friday 10 July 2026 using today’s closing data and global cues.
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Today’s Session Recap Behind the Crude Oil Price Prediction for Tomorrow
- MCX session: MCX Crude Oil 20 July futures at Rs 7,036 (-0.52 percent), open Rs 7,133, high Rs 7,138, low Rs 6,914 against a previous close of Rs 7,073. Steadier crude oil is a relief for Indian macro, and the Nifty Commodities index on the NSE closed higher alongside the broader market today.
- In the broader market, the Nifty 50 closed at 23,962.80, up 0.34 percent, the Sensex rose 0.31 percent to 76,741.82, and the Bank Nifty gained 0.90 percent to 57,252.45 in a relief rally following Wednesday’s sharp selloff. HDFC Bank rose 0.89 percent and ICICI Bank was flat, while Reliance Industries added 0.31 percent. India VIX eased 8.97 percent to 13.36, still above pre selloff levels, and TCS reports Q1 FY27 results tonight after market hours, the key event for tomorrow’s session.
Key Levels in the Crude Oil Price Prediction for Tomorrow
Trend: Bearish bias below resistance. Support levels: Rs 6,910 and Rs 6,800. Resistance levels: Rs 7,140 and Rs 7,250.
For the crude oil price prediction for tomorrow, today’s low of Rs 6,914 makes Rs 6,910 the first support, with Rs 6,800 below it. On the upside, Rs 7,140 near today’s high is the immediate barrier; a sustained move past it opens Rs 7,250. MCX contracts trade into the late evening, so international cues after tonight’s US session can reset these levels before tomorrow’s day session.
Key Drivers Shaping the Crude Oil Price Prediction for Tomorrow
- Pausing after the spike: Crude oil consolidated today after Wednesday’s sharp geopolitical driven rally, with no fresh escalation reported in the Strait of Hormuz situation.
- Still well above pre crisis levels: Despite today’s pullback, prices remain meaningfully above levels seen before Wednesday’s spike, keeping the risk premium intact.
- Supply risk premium persists: Markets continue to price in genuine risk of disrupted oil flows through the critical shipping chokepoint, even as today’s price action cooled.
MCX Data Snapshot
The table below summarises the MCX data behind the crude oil price prediction for tomorrow:
| Contract | Level | Change | Day Range |
|---|---|---|---|
| MCX Crude Oil 20 July futures | Rs 7,036 per barrel | -0.52% | Rs 6,914 – 7,138 |
| MCX Crude Oil 19 August futures | Rs 7,040 per barrel | Next month carry | Term structure reference |
The premium or discount between the July and next month contracts reflects carry costs and demand expectations, and is worth tracking alongside the spot trend.
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Trading Strategy for Tuesday
- Trade the range edges: Entries near Rs 6,910 support or on a confirmed break of Rs 7,140 offer defined risk setups.
- Keep stops beyond the day range: Today’s Rs 6,914 to Rs 7,138 band is the reference; positions against a break of it should be exited quickly.
- Mind the evening session: International cues after tonight’s US session can gap prices; avoid oversized overnight positions given today’s elevated volatility.
- Size for volatility: Commodity futures are margin traded; smaller positions with strict stop losses handle event driven swings better.
What Does Sentiment Indicate for the Crude Oil Price Prediction for Tomorrow?
Sentiment in the crude oil price prediction for tomorrow follows the price structure. Ankit Jaiswal notes that today’s session respected clear boundaries, and holding Rs 6,910 keeps the near term structure intact for tomorrow.
Kunal Singla observes that with Wall Street’s next session still ahead, the dollar index and global benchmark moves overnight are the deciding external inputs, and traders should let the first hour of Tuesday’s session confirm direction before committing.
Risks to the Crude Oil Price Prediction for Tomorrow
- US session gap: Tonight’s dollar and yield prints can gap MCX prices beyond stated levels given today’s volatility.
- Global headline risk: Supply side or geopolitical headlines can override technical levels without warning.
- Evening session moves: Late session international volatility may reset Tuesday’s opening context.
- Margin risk: Futures losses can exceed initial margins if stops are not maintained.
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Conclusion: Crude Oil Price Prediction for Tomorrow
The crude oil price prediction for tomorrow, Friday 10 July 2026, from Univest analysts Ankit Jaiswal and Kunal Singla is defined by the Rs 6,910 to Rs 7,140 band. MCX Crude Oil 20 July futures at Rs 7,036 per barrel holds a soft bias while below resistance, with Rs 6,800 and Rs 7,250 as the outer markers. Tonight’s US session is the key external trigger. Check back after Tuesday’s session for the next crude oil price prediction update from Univest analysts.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on the Crude Oil Price Prediction for Tomorrow
What is the crude oil price prediction for tomorrow, Friday 10 July 2026?
Ans. The crude oil price prediction for tomorrow, Friday 10 July 2026, is range bound with a soft bias. MCX Crude Oil 20 July futures closed at Rs 7,036 per barrel today, down 0.52 percent, with support at Rs 6,910 and Rs 6,800 and resistance at Rs 7,140 and Rs 7,250.
What are the key MCX levels in the crude oil price prediction for tomorrow?
Ans. For the crude oil price prediction for tomorrow, immediate support is at Rs 6,910, near today’s low of Rs 6,914, followed by Rs 6,800. Resistance sits at Rs 7,140, near today’s high of Rs 7,138, and then Rs 7,250.
What drove today’s move in crude oil prices?
Ans. The MCX Crude Oil 20 July futures contract eased modestly, giving back a small part of Wednesday’s sharp 6.71 percent surge as markets digested the Strait of Hormuz tensions without fresh escalation, ending at Rs 7,036 per barrel, a change of -0.52 percent from the previous close of Rs 7,073.
How do global cues affect the crude oil price prediction for tomorrow?
Ans. Tonight’s US session brings fresh dollar index, yield and global benchmark readings following today’s sharp moves. These are primary external inputs for the crude oil price prediction for tomorrow and can gap MCX prices before tomorrow’s day session.
Which contract months matter for the crude oil price prediction for tomorrow?
Ans. The active contract is the MCX Crude Oil 20 July futures at Rs 7,036, while the MCX Crude Oil 19 August futures at Rs 7,040 shows the carry structure. Traders roll positions to the next month as expiry approaches.
Is the crude oil price prediction for tomorrow investment advice?
Ans. No. The crude oil price prediction for tomorrow is educational content only. All levels are analyst observations, not recommendations. Univest is a SEBI registered research analyst (INH000013776) and readers should consult a SEBI registered advisor before trading commodities.
