Crude Oil Price Prediction for Tomorrow | MCX Crude Levels 24 June 2026
- June 23, 2026
- Posted by: Ankit Jaiswal
- Category: News
Crude Oil MCX Crude Oil Jul Futures: Rs 6,994 per barrel on 23 June 2026, -168.00 (-2.35%). Prev Rs 7,162. Nifty 50 23,824.10. VIX 14.23. BN expiry 24 June 2026.
The crude oil price prediction for tomorrow for 24 June 2026 is shaped by today’s MCX Crude Oil Jul Futures closing at Rs 6,994 per barrel (-168.00, -2.35%) as broader markets fell sharply on the Nifty 50 expiry day. Crude oil fell on Iran-US deal optimism signalling potential supply increase from Iran. India VIX surged to 14.23 (+10.83%), reflecting elevated uncertainty. Tomorrow (Wednesday 24 June 2026) is the Bank Nifty weekly expiry, adding a layer of market volatility that will influence MCX trading.
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 broader equity market context that influences commodity sentiment for 24 June 2026.
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Crude Oil Prediction for Tomorrow: Today’s MCX Close
- MCX Close: MCX Crude Oil Jul Futures settled at Rs 6,994 per barrel (-168.00, -2.35%) on 23 June 2026 from Rs 7,162. Crude fell as Iran-US peace talks raised expectations of additional oil supply from Iran
- International Cue: Brent Crude at ~$72.50/bbl (bearish) in global markets. Overnight movement in Brent Crude will be the primary signal for the crude oil price prediction for tomorrow opening price on Wednesday.
- Market Context: Nifty 50 expiry-day selling drove broad risk-off across both equities and commodities on 23 June 2026. Bank Nifty expiry on 24 June 2026 will continue to influence market sentiment for the crude oil price prediction for tomorrow session.
Crude Oil Prediction for Tomorrow: MCX Key Levels
Trend: Cautiously Bearish | MCX Range: Rs 6,900 to Rs 7,150 per barrel
| Level | Crude Oil (MCX Crude Oil Jul Futures) |
|---|---|
| Support 1 | 6,900 |
| Support 2 | 6,750 |
| Resistance 1 | 7,150 |
| Resistance 2 | 7,260 |
The crude oil price prediction for tomorrow from Ankit Jaiswal places Rs 6,900 per barrel as the key MCX support for Wednesday. A hold above 6,900 keeps the crude oil price prediction for tomorrow range-bound with target Rs 7,150. A break above Rs 7,150 with volume targets Rs 7,260. Jaiswal notes that MCX Crude Oil expiry on 20 July 2026 means pre-expiry OI positioning will influence 24 June 2026’s price action. The crude oil price prediction for tomorrow therefore carries expiry-driven intraday risk alongside the broader Bank Nifty Wednesday expiry.
Crude Oil F&O and Global Analysis for 24 June 2026
- MCX Contract: The active MCX Crude Oil contract (Crude Oil Jul Futures) expires on 20 July 2026. The crude oil price prediction for tomorrow expects pre-expiry OI unwinding to add directional impulse to Wednesday’s session.
- International Markets: Brent Crude at ~$72.50/bbl (bearish) is the primary overnight reference. Any material move in Brent Crude between Indian market close today and MCX opening tomorrow will directly gap the crude oil price prediction for tomorrow.
- Dollar Index: DXY direction overnight directly affects rupee-denominated MCX prices. A weaker dollar supports the crude oil price prediction for tomorrow; a stronger dollar creates downside risk for the MCX opening price tomorrow.
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MCX Trading Strategy: crude oil price prediction for tomorrow
- Buy Setup: The crude oil price prediction for tomorrow suggests buying near Rs 6,900 per barrel with stop at Rs 6,750 targeting Rs 7,150. Confirm with overnight Brent Crude direction before entry.
- Sell Setup: A break below Rs 6,900 on volume in the crude oil price prediction for tomorrow targets Rs 6,750 with stop above Rs 7,150.
- Watch Bank Nifty Expiry: Broad market volatility from Bank Nifty expiry on Wednesday can temporarily spike MCX volatility. The crude oil price prediction for tomorrow advises avoiding trades in the 2:00 to 3:15 PM window.
- Limit Orders: MCX Crude Oil can gap on overnight global moves. The crude oil price prediction for tomorrow recommends using limit orders rather than market orders to avoid adverse fills on Wednesday opening.
What Global Data Indicates for crude oil price prediction for tomorrow
The crude oil price prediction for tomorrow is primarily driven by overnight movements in Brent Crude and the Iran-US Switzerland talk outcome. Ankit Jaiswal notes that the crude oil price prediction for tomorrow carries dual event risk on Wednesday: MCX contract-specific expiry positioning and broader Bank Nifty weekly expiry volatility that affects rupee and risk sentiment simultaneously.
Kunal Singla observes that Nifty 50 falling to 23,824.10 today and VIX at 14.23 signal a cautious near-term environment. The crude oil price prediction for tomorrow in this context leans toward the defensive end — tighter position sizes and wider stops are recommended until either the Iran-US deal outcome or Bank Nifty expiry provides directional clarity.
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Risks to crude oil price prediction for tomorrow
- Iran-US Deal Outcome: A confirmed Iran deal overnight would sharply alter the crude oil price prediction for tomorrow via energy price and risk-sentiment channels. A breakdown would spike volatility and may gap the crude oil price prediction for tomorrow opening above or below key levels.
- Iran Deal Surge: A confirmed Iran deal overnight would gap down crude toward Rs 6,750, sharply extending the bearish crude oil price prediction for tomorrow below the Rs 6,900 support.
- Dollar Spike: A sharp DXY surge overnight would pressure all rupee-denominated MCX prices and create gap-down risk for the crude oil price prediction for tomorrow on Wednesday opening.
- Bank Nifty Expiry Spillover: Broad market volatility from Bank Nifty expiry can temporarily widen MCX Crude Oil spreads and create slippage risk for the crude oil price prediction for tomorrow in the afternoon session.
Stocks to Watch Tomorrow, 24 June 2026
Ankit Jaiswal and Kunal Singla of Univest flag three equity stocks for Wednesday’s session. Tomorrow is Bank Nifty weekly expiry (24 June), adding volatility to banking names. These picks are based on today’s post-expiry oversold setup.
| Stock | CMP (23 June 2026) | Entry Zone | Target | Stop Loss |
|---|---|---|---|---|
| Sun Pharma | Rs 1,868.00 | Rs 1,862 to Rs 1,872 | Rs 1,900 to Rs 1,910 | Rs 1,845 |
| HDFC Bank | Rs 774.65 | Rs 772 to Rs 778 | Rs 790 to Rs 795 | Rs 763 |
| Reliance Industries | Rs 1,309.50 | Rs 1,305 to Rs 1,312 | Rs 1,330 to Rs 1,338 | Rs 1,292 |
Sun Pharma closed at Rs 1,868.00 today, the outperformer in a weak market, as Nifty Pharma (+0.92%) was among the very few positive sectors on 23 June 2026. Jaiswal flags entry at Rs 1,862 to Rs 1,872 targeting Rs 1,900. HDFC Bank at Rs 774.65 is oversold ahead of Bank Nifty expiry on Wednesday; Singla sees a pre-expiry short-covering bounce targeting Rs 790 to Rs 795 with stop at Rs 763. Reliance Industries closed at Rs 1,309.50, testing its low of Rs 1,304 today; Jaiswal sees Rs 1,305 to Rs 1,312 as a bounce entry targeting Rs 1,330 with stop at Rs 1,292.
Conclusion
The crude oil price prediction for tomorrow on 24 June 2026 is cautiously bearish with MCX support at Rs 6,900 and resistance at Rs 7,150 per barrel. Ankit Jaiswal notes that the crude oil price prediction for tomorrow direction hinges on overnight Brent Crude movement and Iran-US talk outcome. Track Brent Crude and GIFT Nifty before 9:15 AM for the most current inputs for the crude oil price prediction for tomorrow on Wednesday.
This crude oil price prediction for tomorrow is based on MCX market data as of close of trade on 23 June 2026. All levels should be verified with MCX official data before placing positions in the crude oil price prediction for tomorrow for Wednesday.
Disclaimer: Data and figures are sourced from publicly available information. Please verify all data with NSE (nseindia.com), BSE (bseindia.com), and MCX (mcxindia.com) before investing. Investments 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, 24 June 2026?
Ans. The crude oil price prediction for tomorrow for 24 June 2026 shows MCX Crude Oil at Rs 6,994 per barrel (-2.35%) on 23 June 2026. Support is Rs 6,900 and resistance Rs 7,150 per barrel. Brent Crude at ~$72.50/bbl is the primary overnight cue for the crude oil price prediction for tomorrow opening on Wednesday.
What is the MCX Crude Oil support for 24 June 2026?
Ans. The crude oil price prediction for tomorrow places MCX Crude Oil support at Rs 6,900 and Rs 6,750 per barrel. Resistance levels are Rs 7,150 and Rs 7,260. A sustained break above Rs 7,150 with volume would signal a bullish breakout for the crude oil price prediction for tomorrow on Wednesday.
When is the MCX Crude Oil expiry?
Ans. The active MCX Crude Oil contract (Crude Oil Jul Futures) expires on 20 July 2026. Pre-expiry OI positioning will influence the crude oil price prediction for tomorrow intraday on Wednesday, particularly in the final trading hour.
What stocks should traders watch alongside the crude oil price prediction for tomorrow?
Ans. Alongside the crude oil price prediction for tomorrow on Wednesday, Univest analysts flag Sun Pharma (entry Rs 1,862 to Rs 1,872, target Rs 1,900), HDFC Bank (pre-expiry bounce, entry Rs 772 to Rs 778, target Rs 790), and Reliance Industries (oversold bounce, entry Rs 1,305 to Rs 1,312, target Rs 1,330) as key equity stocks to watch.
How does Bank Nifty expiry affect the crude oil price prediction for tomorrow?
Ans. Bank Nifty weekly expiry on Wednesday 24 June 2026 can widen MCX spreads and create additional volatility between 2:00 PM and 3:15 PM. The crude oil price prediction for tomorrow advises avoiding MCX Crude Oil trades during this Bank Nifty expiry window to reduce slippage risk.
