{"id":216095,"date":"2026-08-21T17:34:35","date_gmt":"2026-08-21T12:04:35","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=216095"},"modified":"2026-08-21T17:34:37","modified_gmt":"2026-08-21T12:04:37","slug":"crude-oil-price-prediction-for-monday-24-august-2026-2","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/crude-oil-price-prediction-for-monday-24-august-2026-2\/","title":{"rendered":"Crude Oil Price Prediction for Monday: Iran Supply Risk Sustains Four-Session Rally for 24 August 2026"},"content":{"rendered":"
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MCX Crude Oil (Sep 21) at Rs 8,353\/bbl (+0.61%) on 21 Aug 2026. High: Rs 8,384. Low: Rs 8,224. Four consecutive positive sessions. Support: Rs 8,280. Resistance: Rs 8,384.<\/em><\/p>\n

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Quick Answer<\/strong><\/p>\n

The crude oil price prediction for Monday, 24 August 2026, is bullish. MCX Crude Oil (September contract) closed at Rs 8,353\/bbl (+0.61%) on Friday 21 August, completing a four-session winning streak driven by sustained Iran-Strait of Hormuz supply concerns. Ankit Jaiswal places support at Rs 8,280 to 8,300 and resistance at Rs 8,384 for the crude oil price prediction for Monday. Kunal Singla notes that the Nifty Oil and Gas index gained 1.07% on Friday, confirming the equity market is transmitting the bullish crude oil price prediction for Monday to energy stocks.<\/p>\n<\/div>\n

The crude oil price prediction for Monday follows a Friday session where MCX Crude Sep opened at Rs 8,271, reached Rs 8,384, pulled back to Rs 8,224, and settled at Rs 8,353. Ankit Jaiswal, Research Analyst at Univest, notes that the pullback from the high and the flat-to-slightly-positive close show that profit-taking is active near Rs 8,380 to 8,400 \u2014 precisely the resistance zone identified in the crude oil price prediction for Monday. A Monday open above Rs 8,300 would signal that the profit-taking was absorbed and the crude oil price prediction for Monday remains bullish.<\/p>\n

Kunal Singla, Research Analyst at Univest, observes that the crude oil price prediction for Monday is supported by Reliance Industries closing at Rs 1,316 (+0.21%) and ONGC (+0.88%) on Friday \u2014 both oil-linked equities confirming the sector-level bullishness. Additionally, the MCX Crude Oil Sep contract options market shows strong call buying at Rs 8,400 and Rs 8,500 strikes, suggesting institutional traders expect the crude oil price prediction for Monday to deliver a break above Rs 8,400 within the near term.<\/p>\n

Click Here – Get Free Investment Predictions<\/strong><\/a><\/p>\n

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