Crude Oil Prediction for Tomorrow, Monday 3 August 2026: MCX Levels Heading Into the New Week

Anyone building a crude oil prediction for tomorrow has one clean data point to work from: MCX Crude Oil August futures settled Friday's session at Rs 8,022 per barrel, a move of -0.19% from Thursday's Rs 8,037 close, with no fresh trade over the weekend to update that picture before Monday's reopening. Crude oil held a narrow range after Thursday's sharp pullback from an intraday spike above 93 dollars a barrel on Brent, as the market weighed a proposed Red Sea security coalition against ongoing Iran-US tensions.

This crude oil prediction for tomorrow was put together by Univest analysts Ankit Jaiswal, Senior Research Analyst, and Kunal Singla, Associate Director, working from Friday's settlement prices and the calendar of events landing through the coming week. Ankit Jaiswal walks through the chart setup, and Kunal Singla adds the positioning and macro angle that could move the contract once trade resumes.

Friday's Session: What It Means for Tomorrow's Crude Oil

• MCX Crude Oil August futures settled at Rs 8,022 per barrel on Friday, a -0.19% move from Thursday's Rs 8,037.
• Crude oil held a narrow range after Thursday's sharp pullback from an intraday spike above 93 dollars a barrel on Brent, as the market weighed a proposed Red Sea security coalition against ongoing Iran-US tensions.
• With the contract expiring 19 August, rollover positioning is a factor traders should have on their radar heading into tomorrow.

Crude Oil Levels to Watch Tomorrow

Metric	Level
Friday Settlement	Rs 8,022 (-0.19%)
Watch Support	Rs 7,900 / Rs 7,750
Watch Resistance	Rs 8,040 / Rs 8,150
Contract Expiry	19 August

For tomorrow's crude oil prediction for tomorrow, Ankit Jaiswal is watching Rs 7,900 first; a session that holds above that level keeps the setup on a stable footing, while a break sends the contract toward Rs 7,750. On the other side, clearing Rs 8,040 would put Rs 8,150 back on the table.

Contract Watch: F&O Notes for Tomorrow's Crude Oil Prediction for Tomorrow

MCX Crude Oil August futures runs through to 19 August, and Kunal Singla points out that open interest typically builds through the first half of an expiry cycle before rollover trade takes over. Currency swings around the RBI verdict this week are worth tracking too, since they tend to filter into MCX pricing alongside the contract's own supply and demand fundamentals.

Global and Policy Backdrop Ahead of Tomorrow's Crude Oil Prediction for Tomorrow

Tomorrow also marks the opening day of the RBI Monetary Policy Committee's three day meeting, with the rate verdict due Wednesday, 5 August. The repo rate has been held at 5.25 percent across three straight reviews, and a fourth pause is the consensus view heading in.

Overnight on Wall Street, the Nasdaq surged 2.78 percent and the S&P 500 added 1.66 percent on Thursday as Microsoft led a broad tech rebound, a day after a Fed driven selloff. Brent crude settled near 89 dollars a barrel after an earlier spike past 93 dollars on Iran related strikes, and Gift Nifty was trading close to 24,422 on Friday morning.

How to Approach Tomorrow's Session

• Anchor tomorrow's trade to Rs 7,900; staying above it keeps this crude oil prediction for tomorrow on a constructive footing.
• A push through Rs 8,040 would be the cue to look for continuation toward Rs 8,150 in this crude oil prediction for tomorrow.
• Scale into positions rather than going all in, with the RBI verdict still three sessions away.
• Set stops below Rs 7,750 so a single bad session does not undo the broader thesis behind this crude oil prediction for tomorrow.

What Could Go Wrong: Risks to the Crude Oil Prediction for Tomorrow

• A firmer dollar out of a hawkish RBI or Fed tone would be the clearest headwind for this crude oil prediction for tomorrow, especially in gold and silver.
• Any weekend flare up in the Iran-US standoff could send the whole commodity complex swinging sharply at Monday's open.
• Expect choppier trade as 19 August approaches and positions begin rolling to the next contract month.
• A fade in Thursday's Wall Street strength once Friday's US session wraps up could dent risk appetite across commodities before Monday.

Conclusion

Heading into tomorrow, this crude oil prediction for tomorrow points to MCX Crude Oil August futures holding a band between Rs 7,900 and Rs 8,040, with the RBI's three day policy meeting opening the same day as the standout event for the week. Ankit Jaiswal and Kunal Singla both say Wednesday's verdict, not tomorrow's open, is the date that matters most for where this crude oil prediction for tomorrow eventually lands.

Click Here – Get Free Investment Predictions

Track live Crude Oil and MCX commodity levels on the Univest Screener

Download the Univest iOS App or Univest Android App to get the crude oil prediction for tomorrow and daily commodity research from SEBI registered analysts.

What is the crude oil prediction for tomorrow, Monday 3 August 2026?

Ans. The crude oil prediction for tomorrow points to MCX Crude Oil August futures trading between Rs 7,900 support and Rs 8,040 resistance, based on Friday's settlement of Rs 8,022 per barrel.

Where should traders watch for support and resistance tomorrow?

Ans. Support sits at Rs 7,900 then Rs 7,750; resistance is at Rs 8,040 then Rs 8,150.

When does MCX Crude Oil August futures expire?

Ans. MCX Crude Oil August futures runs through to 19 August, a date worth watching for rollover related swings in this crude oil prediction for tomorrow.

Why does the RBI meeting matter for tomorrow's commodity trade?

Ans. The RBI Monetary Policy Committee opens its meeting tomorrow, with the verdict due Wednesday. Currency moves tied to that decision often carry through into MCX pricing, particularly for gold and silver.

What are Ankit Jaiswal and Kunal Singla saying about this crude oil prediction for tomorrow?

Ans. Ankit Jaiswal is watching whether Friday's -0.19% move extends or fades tomorrow, while Kunal Singla flags the RBI verdict and global crude trends as the bigger drivers for the week.

What drove crude oil on Friday?

Ans. Crude oil held a narrow range after Thursday's sharp pullback from an intraday spike above 93 dollars a barrel on Brent, as the market weighed a proposed Red Sea security coalition against ongoing Iran-US tensions.

What global cues matter heading into tomorrow?

Ans. Brent crude settled near 89 dollars a barrel after an earlier spike past 93 dollars on Iran related strikes, and Wednesday's RBI verdict is the dominant domestic trigger for the week ahead.

Is it a good time to add fresh crude oil positions?

Ans. Univest analysts suggest scaling in rather than committing fully ahead of Wednesday's RBI decision, and recommend speaking with a SEBI-registered financial advisor before making investment decisions.