Crude Oil Price Prediction for Tomorrow, 14 July 2026: MCX Crude Jumps 3.16 Percent to Rs 7,029 as Iran Re-Closes Hormuz

Crude oil price prediction for tomorrow: MCX Crude Oil July futures jumped to close at Rs 7,029 on Monday, up 3.16 percent, after Iran re-closed the Strait of Hormuz over the weekend and expanded its strikes to include Qatar and the UAE in response to fresh US attacks on Iranian targets. This crude oil price prediction for tomorrow is built on Friday, 10 July 2026’s closing data, the last completed session before markets reopen on Monday, 13 July 2026.

Ankit Jaiswal, Senior Research Analyst at Univest, notes that the crude oil price prediction for tomorrow now hinges on a genuinely escalated situation rather than the earlier partial-disruption scenario, since Iran’s declared closure of the strait, if sustained, would affect a route carrying roughly a fifth of global oil and gas supplies before the conflict began.

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Market Recap Behind the Crude oil price prediction for tomorrow

Crude oil opened at Rs 7,086, spiked to a high of Rs 7,206 and closed at Rs 7,029, holding most of Monday’s sharp gains. Brent crude touched levels near 79 dollars a barrel intraday, while WTI crude also rose over 4 percent at one point, even as the International Energy Agency noted global oil supply actually rose 4.1 million barrels per day in June, still 9.4 million barrels per day below pre-war levels.

Crude oil price prediction for tomorrow: Trend and Key Levels

Trend: Bullish Above Rs 6,950

Level Type	Value
Support 1	Rs 6,950
Support 2	Rs 6,850
Resistance 1	Rs 7,150
Resistance 2	Rs 7,300

Ankit Jaiswal flags Rs 6,950 as the key support for the crude oil price prediction for tomorrow, with Rs 7,150 as the first resistance. A close above Rs 7,300 would signal the market is pricing in a sustained Hormuz disruption, while a break under Rs 6,850 would suggest today’s spike is fading quickly.

Strait of Hormuz Closure: The Central Trigger for Tomorrow

Iran announced the closure of the Strait of Hormuz after its Revolutionary Guards Navy targeted a vessel on what it called an unsanctioned route, following the weekend’s expanded US strikes on Iranian targets across the country. The strait is a critical global oil transit chokepoint, and any sustained closure would be a significantly larger disruption than the tanker-specific incidents seen earlier in the conflict. The crude oil price prediction for tomorrow depends heavily on whether shipping through the strait continues to flow despite Iran’s declaration, as it partially did during earlier phases of the conflict.

Key Triggers in the Crude oil price prediction for tomorrow

These triggers dominate the outlook heading into Monday, 13 July 2026:

• Actual shipping flows through Hormuz: Whether tankers continue transiting despite Iran’s declared closure is the most important real-time indicator for the crude oil price prediction for tomorrow.
• Further regional escalation: Iran’s strikes on Qatar and the UAE mark a broadening of the conflict beyond direct US-Iran exchanges, raising the stakes for tomorrow’s session.
• OPEC+ and IEA supply data: The IEA’s June supply increase of 4.1 million barrels per day is a mitigating factor that could cap further upside if shipping normalises.

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Related Energy Markets to Watch

Natural gas and energy equities are worth tracking alongside the crude oil price prediction for tomorrow for a fuller energy market picture.

Natural Gas: MCX Natural Gas fell 0.86 percent on Monday, a sign gas continues trading on its own weather-driven fundamentals rather than the Hormuz-linked premium in crude.

Nifty Oil and Gas stocks: Indian energy equities offer a read on how domestic markets are pricing the same supply risk; Reliance Industries fell 0.83 percent on Monday despite the crude spike, reflecting refining margin concerns.

Risks to the Crude oil price prediction for tomorrow

These factors can invalidate this outlook:

• Shipping normalising despite the closure: If tankers continue transiting the strait as they partially did earlier in the conflict, today’s price spike could unwind quickly.
• Further escalation: Continued strikes on additional Gulf nations would be the clearest upside risk to the crude oil price prediction for tomorrow.
• Demand destruction: Sustained high prices could eventually dent global oil demand, a longer-term offsetting factor.

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Conclusion

The crude oil price prediction for tomorrow, 14 July 2026, is bullish above Rs 6,950, after Iran’s declared closure of the Strait of Hormuz and expanded regional strikes drove a 3.16 percent Monday spike. Ankit Jaiswal flags Rs 6,950 as the key support in the crude oil price prediction for tomorrow, with actual shipping flows through the strait, rather than the declaration itself, the most important signal to track heading into Tuesday.

FAQs on the Crude oil price prediction for tomorrow

What is the crude oil price prediction for tomorrow, 14 July 2026?

Ans. The crude oil price prediction for tomorrow, 14 July 2026, is bullish above Rs 6,950. MCX Crude Oil July futures closed at Rs 7,029 on Monday, up 3.16 percent, after Iran re-closed the Strait of Hormuz over the weekend.

Which analyst gave the crude oil price prediction for tomorrow?

Ans. Ankit Jaiswal, Senior Research Analyst at Univest, has shared the crude oil price prediction for tomorrow, flagging Rs 6,950 as the key support level.

Why did Iran close the Strait of Hormuz again?

Ans. Iran announced the closure after its Revolutionary Guards Navy targeted a vessel on an unsanctioned route, following the weekend’s expanded US strikes on Iranian targets. The crude oil price prediction for tomorrow treats actual shipping flows, rather than the declaration itself, as the key signal to watch.

Is crude oil expected to rise further on Tuesday?

Ans. The crude oil price prediction for tomorrow leans bullish above Rs 6,950, since the Strait of Hormuz closure represents a more serious escalation than earlier incidents, though whether tankers continue transiting despite Iran’s declaration will determine if Monday’s spike extends or unwinds.