Crude Oil Price Prediction for Tomorrow, 23 October 2026
- October 22, 2026
- Posted by: Ankit Jaiswal
- Category: Uncategorized
Crude Oil traded at Rs 9,457.00 per barrel on MCX, up 2.70%, on the 19 November 2026 futures. Nifty 50 fell 0.54%. India VIX rose 0.96% to 15.83. Next session is tomorrow, Friday 23 October.
Quick Answer
The crude oil price prediction for tomorrow leans constructive for tomorrow, 23 October 2026. Crude oil traded at Rs 9,457.00 per barrel on the 19 November futures, up 2.70 percent, a second straight gain, and sits close to the day’s high of 9,523. The previous close was 9,208.
This crude oil price prediction for tomorrow follows a Thursday, 22 October 2026 session in which crude oil futures on MCX rose 2.70 percent, a second straight gain, and closed near the day’s high of 9,523.
Ankit Jaiswal, Senior Research Analyst at Univest, and Kunal Singla, Associate Director at Univest, are tracking crude oil price and global cues ahead of the session tomorrow, which falls on Friday, 23 October 2026.
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What Thursday Told Us
- Crude Oil traded at Rs 9,457.00 per barrel, up 2.70 percent on the 19 November 2026 futures, with a high of 9,523.00 and a low of 9,317.00.
- Nifty 50 fell 0.54 percent.
- India VIX rose 0.96 percent to 15.83.
Crude Oil Price Prediction for Tomorrow: Key Levels
Crude Oil (19 November 2026 futures) traded between 9,317.00 and 9,523.00 on Thursday, against a previous close of 9,208.00, and settled at 9,457.00. On the downside, 9,317.00 and 9,208.00 are the first reference levels to watch if the day’s move is tested. On the upside, 9,523.00 marks the nearest resistance. Univest’s analysts treat these as reference points drawn from Thursday’s trading range, not as targets.
| Trend | Support | Resistance |
|---|---|---|
| Positive | 9,317.00, 9,208.00 | 9,523.00 |
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 tomorrow is a framework for planning risk, with position size and stop levels left to the individual.
Key Drivers for Tomorrow
- Crude oil rose 2.70 percent on the MCX 19 November contract, with a high of 9,523.00 and a low of 9,317.00.
- The price closed within 66 rupees of the high, so buyers held control through the session.
- India imports most of its crude, so higher oil prices usually raise pressure on inflation and the rupee.
Anyone following this crude oil price prediction for tomorrow should keep the next session’s opening range in view before reading too much into early moves.
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. Reliance fell 2.03 percent and ONGC fell 0.27 percent on Thursday, so equities did not follow crude higher.
How Thursday’s Broader Session Unfolded
The Nifty 50 closed at 22,687.65, down 0.54 percent, with a high of 22,785.00 and a low of 22,554.85. The Sensex closed at 73,249.39, down 0.62 percent, and the Bank Nifty closed at 54,925.70, down 0.09 percent. India VIX, the market’s fear gauge, rose 0.96 percent to 15.83, which keeps expected swings in the near term on the wider side. The Nifty 50 has now fallen about 2 percent from last Friday’s close of 23,146.15, with Thursday adding to Wednesday’s 0.34 percent decline. Nifty FMCG fell 1.41 percent and Nifty IT fell 1.05 percent, while Nifty Pharma rose 0.12 percent. The trigger for the broad fall was not independently confirmed.
Univest’s analysts suggest treating this crude oil price prediction for tomorrow as a preparation note for Friday, 23 October 2026, rather than a signal that changes overnight.
Analyst View for Tomorrow
Kunal Singla suggests that crude can stay firm while it holds above 9,317, with 9,523 the level to clear.
Ankit Jaiswal flags that a rise of more than 4 percent over two sessions is large, so a pullback toward 9,208 is possible if buyers tire.
This crude oil price prediction for tomorrow will be most useful when read alongside the support and resistance table above.
Why This Is Written for Tomorrow
This crude oil price prediction for tomorrow is written after the close on Thursday, 22 October 2026, using Thursday’s closing data, for the next trading session on Friday, 23 October 2026. Treat it as a briefing to prepare for that session, not a live call that updates through the evening.
MCX futures trade into Thursday night, so global moves late on Thursday can shift Friday’s opening price.
A fair reading of this crude oil price prediction for tomorrow is that Thursday’s data sets the context, while Friday’s first hour decides how much of it carries forward.
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Risks to This Prediction
- A reversal in global crude overnight could erase Thursday’s gain.
- Supply headlines from major producers can gap crude sharply at the open.
- Thin volumes early Friday can exaggerate short-term moves.
Readers comparing views should note that this crude oil price prediction for tomorrow draws only on Thursday’s closing numbers and the factors listed here.
As with any crude oil price prediction for tomorrow, the opening minutes of Friday’s trade will confirm or challenge the levels discussed here.
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The crude oil price prediction for tomorrow also depends on India VIX, so a fresh rise in volatility would weaken the case made here.
Conclusion
The crude oil price prediction for tomorrow leans constructive into 23 October 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 Friday’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 tomorrow?
Ans. It is constructive for 23 October 2026, after Crude Oil traded at Rs 9,457.00 per barrel on Thursday, up 2.70 percent.
Why is this a prediction for tomorrow, 23 October 2026?
Ans. Because it is written after the close on Thursday, 22 October 2026, for the next regular trading session on Friday, 23 October 2026.
Why did crude oil rise on Thursday?
Ans. Crude oil rose 2.70 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 pressure 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.
