Crude Oil Price Prediction for Tomorrow | MCX Crude Levels 23 June 2026
- June 22, 2026
- Posted by: Kunal Singla
- Category: News
Crude Oil (MCX Crude Oil July Futures) at Rs 7,162 per barrel on 22 June 2026, -1.38%. Prev 7,262. Intl Brent Crude: $74.50/bbl (-1.2%). VIX 27.32.
The crude oil price prediction for tomorrow for 23 June 2026 centres on MCX Crude Oil July Futures closing at Rs 7,162 per barrel on 22 June 2026, a move of -100.00 (-1.38%) from the previous close of Rs 7,262. Iran-US peace talk optimism drove crude oil lower on supply ease expectations. The broader Nifty 50 closed at 24,102.90 (+0.37%), with commodity markets tracking global cues from Iran-US talks in Switzerland.
Ankit Jaiswal, Senior Research Analyst at Univest, has analysed today’s MCX Crude Oil price action, global cues, and F&O data to present the crude oil price prediction for tomorrow. Kunal Singla provides the macro and institutional flow context for Tuesday’s MCX session.
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Crude Oil Prediction for Tomorrow: Today’s MCX Close
- MCX Close: MCX Crude Oil July Futures settled at Rs 7,162 per barrel on 22 June 2026, moving -100.00 (-1.38%) from Rs 7,262. Crude fell as traders priced in potential supply recovery if Iran-US deal materialises.
- International Cue: Brent Crude traded at $74.50/bbl (-1.2%) in global markets. Overnight movement in Brent Crude will be the primary cue for the crude oil price prediction for tomorrow.
- Market Context: Iran-US talks in Switzerland and elevated India VIX at 27.32 are the two swing factors shaping the crude oil price prediction for tomorrow heading into Tuesday’s MCX session.
Crude Oil Prediction for Tomorrow: Key MCX Levels
Trend: Bearish / Cautious | Range: Rs 7,050 to Rs 7,300 per barrel
| Level | Crude Oil (MCX) |
|---|---|
| Support 1 | 7,050 |
| Support 2 | 6,900 |
| Resistance 1 | 7,300 |
| Resistance 2 | 7,450 |
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The crude oil price prediction for tomorrow from Ankit Jaiswal places Rs 7,050 per barrel as the immediate MCX support for Tuesday. A hold above this level keeps the near-term bias cautious and targets Rs 7,300 as the first resistance. A sustained break above Rs 7,300 with volume would open the path toward Rs 7,450. Jaiswal notes that MCX Crude Oil expiry is on 20 July 2026, so Tuesday’s session will see pre-expiry positioning influence price action.
MCX F&O Analysis for Crude Oil Prediction for Tomorrow
- Contract and Expiry: The active MCX Crude Oil contract (Crude Oil July Futures) expires on 20 July 2026. The crude oil price prediction for tomorrow includes pre-expiry positioning as a key intraday driver for Tuesday.
- OI Trend: Open interest trends in MCX Crude Oil heading into expiry will signal whether large participants are adding to or trimming positions ahead of 23 June 2026.
- Margin and Lot Size: MCX Crude Oil traders should review margin requirements heading into 23 June 2026, as VIX at 27.32 and expiry week can widen intraday swings significantly.
Global Cues for Crude Oil Prediction for Tomorrow
- Brent Crude: At $74.50/bbl (-1.2%), the international benchmark is the primary overnight cue for the crude oil price prediction for tomorrow. Any sharp move after Indian market hours will directly set the MCX opening price for 23 June 2026.
- Iran-US Talks: Day 2 of Switzerland negotiations directly impacts the crude oil price prediction for tomorrow via currency, crude, and risk sentiment channels. A deal would boost risk appetite; a breakdown revives safe-haven and energy price volatility.
- Dollar Index (DXY): A stronger dollar typically pressures commodity prices in INR terms. Monitor DXY overnight as it shapes the crude oil price prediction for tomorrow opening gap on Tuesday.
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MCX Trading Strategy: Crude Oil Prediction for Tomorrow
- Buy Setup: The crude oil price prediction for tomorrow suggests buying near Rs 7,050 per barrel with stop at Rs 6,900 and target Rs 7,300. Confirm with overnight international price direction before entry.
- Sell Setup: A break below Rs 7,050 on volume validates a short in the crude oil price prediction for tomorrow with target Rs 6,900 and stop above Rs 7,300.
- Avoid Illiquid Hours: MCX Crude Oil volatility peaks at the opening (9:00 AM) and near expiry. The crude oil price prediction for tomorrow advises avoiding trades in the first 15 minutes.
- Hedge Against Volatility: Given VIX at 27.32, use options strategies or smaller lot sizes to manage risk in the crude oil price prediction for tomorrow environment for Tuesday.
What Data Indicates for Crude Oil Prediction for Tomorrow
The crude oil price prediction for tomorrow is shaped by three signals: MCX Crude Oil closing below the previous session at Rs 7,162 per barrel, the international benchmark Brent Crude at $74.50/bbl (-1.2%), and Iran-US talks as the key binary event overnight.
Ankit Jaiswal notes that the crude oil price prediction for tomorrow carries elevated expiry-week risk as the active Crude Oil July Futures approaches its 20 July 2026 settlement. Pre-expiry OI unwinding can create sharp intraday moves that temporarily breach the support and resistance levels in the crude oil price prediction for tomorrow.
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Risks to Crude Oil Prediction for Tomorrow
- Crude Oil: A deal breakdown overnight would sharply reverse crude below Rs 7,050, creating upside spike risk that invalidates the bearish crude oil price prediction for tomorrow
- Iran-US Breakdown: A collapse in Switzerland negotiations would sharply spike volatility across commodity markets, potentially invalidating the crude oil price prediction for tomorrow technical levels.
- Dollar Spike: A sharp DXY surge overnight would put pressure on rupee-denominated MCX commodity prices, creating a gap-down risk for the crude oil price prediction for tomorrow on Tuesday opening.
- Pre-Expiry Volatility: As Crude Oil July Futures approaches 20 July 2026, pre-expiry OI unwinding can create sudden directional moves that override the crude oil price prediction for tomorrow technical picture.
Conclusion
In summary, the crude oil price prediction for tomorrow on 23 June 2026 is cautiously bearish with MCX support at Rs 7,050 and resistance at Rs 7,300 per barrel. Ankit Jaiswal places the crude oil price prediction for tomorrow in the context of Iran-US talk progress and elevated VIX at 27.32. A positive overnight global cue from Brent Crude and an Iran deal would support the crude oil price prediction for tomorrow above Rs 7,050.
This crude oil price prediction for tomorrow is based on MCX market data as of close of trade on 22 June 2026. Track Brent Crude overnight and check MCX opening cues before placing positions in the crude oil price prediction for tomorrow for Tuesday.
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
What is the crude oil price prediction for tomorrow?
Ans. The crude oil price prediction for tomorrow for 23 June 2026 shows MCX Crude Oil at Rs 7,162 per barrel on 22 June 2026 (-100.00, -1.38%). Support is Rs 7,050 and resistance Rs 7,300 per barrel. International benchmark Brent Crude at $74.50/bbl is the primary overnight cue.
What is the MCX Crude Oil support and resistance for 23 June 2026?
Ans. The crude oil price prediction for tomorrow places MCX Crude Oil support at Rs 7,050 and Rs 6,900 per barrel for 23 June 2026. Resistance levels are Rs 7,300 and Rs 7,450 per barrel. A break above Rs 7,300 would signal a bullish breakout in the crude oil price prediction for tomorrow for Tuesday.
How do Iran-US talks affect the crude oil price prediction for tomorrow?
Ans. Iran-US negotiations in Switzerland directly impact the crude oil price prediction for tomorrow via crude oil, currency, and risk sentiment channels. A deal would boost the crude oil price prediction for tomorrow via improved market sentiment; a breakdown would revive commodity price volatility.
What is the MCX Crude Oil expiry date?
Ans. The active MCX Crude Oil contract (Crude Oil July Futures) expires on 20 July 2026. The crude oil price prediction for tomorrow includes pre-expiry OI unwinding as a key intraday driver for Tuesday. Monitor OI trends heading into expiry for directional confirmation.
What is the trading strategy from the crude oil price prediction for tomorrow?
Ans. The crude oil price prediction for tomorrow suggests buying near Rs 7,050 per barrel with stop at Rs 6,900 and target Rs 7,300. Below Rs 7,050, the crude oil price prediction for tomorrow turns bearish with target Rs 6,900. Use smaller lot sizes given VIX at 27.32 and expiry-week volatility.
