Crude Oil Price Prediction for Tomorrow, 17 July 2026: MCX Crude Extends Rally for a Fourth Straight Session to Rs 7,666

Crude oil price prediction for tomorrow: MCX Crude Oil July futures extended their rally to close at Rs 7,666 on Thursday, up 0.70 percent, a fourth consecutive session of gains after fresh US attacks on Iran overnight, even as the pace of the climb decelerated notably from earlier in the week. 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 reflects a market where the initial shock-driven spikes of Tuesday and Wednesday have given way to a steadier, more gradual grind higher, a pattern often seen once a market has begun pricing in a sustained rather than sudden risk.

Click Here – Get Free Investment Predictions

Market Recap Behind the Crude oil price prediction for tomorrow

Crude oil opened at Rs 7,691, touched a high of Rs 7,695 and a low of Rs 7,611 before closing at Rs 7,666, its most contained daily range of the week. The EIA reported US crude inventories fell 1.7 million barrels for the week ended 5 July, less than the 2.6 million barrel decline analysts had expected, a modestly bearish supply signal that didn’t stop the fourth straight session of gains but may explain the slower pace of Thursday’s move.

Crude oil price prediction for tomorrow: Trend and Key Levels

Trend: Bullish Above Rs 7,580

Level Type	Value
Support 1	Rs 7,580
Support 2	Rs 7,480
Resistance 1	Rs 7,750
Resistance 2	Rs 7,850

Ankit Jaiswal flags Rs 7,580 as the key support for the crude oil price prediction for tomorrow, with Rs 7,750 as the first resistance. A close above Rs 7,850 would confirm the market is still building on its multi-session escalation premium, while a break under Rs 7,480 would suggest the four-session rally is finally losing momentum.

A Fourth Session of Gains, But at a Slower Pace

Ankit Jaiswal flags this deceleration as the key nuance in the crude oil price prediction for tomorrow: after sharp single-day spikes on Tuesday and Wednesday, Thursday’s more modest 0.70 percent gain, alongside a less-than-expected inventory draw from the EIA, suggests the market may be approaching a point where fresh incidents are needed to sustain further upside, rather than the crisis’s cumulative weight alone.

Key Triggers in the Crude oil price prediction for tomorrow

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

• Further naval incidents: A fresh escalation would be needed to reignite the sharper single-day moves seen earlier in the week.
• EIA and OPEC+ supply data: The smaller-than-expected inventory draw is a modestly bearish signal worth monitoring for follow-through.
• Diplomatic intervention: Any sign of international mediation would be the clearest catalyst for the rally to finally pause or reverse.

Talk to a SEBI Registered Investment Advisor Before Trading Commodities

Related Energy Markets to Watch

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

Natural Gas: MCX Natural Gas eased 0.39 percent on Thursday, continuing to trade independently of crude’s own rally.

Reliance Industries: India’s largest energy conglomerate rose just 0.08 percent on Thursday, continuing to significantly lag crude’s multi-session climb.

Risks to the Crude oil price prediction for tomorrow

These factors can invalidate this outlook:

• Sudden de-escalation: Any diplomatic breakthrough would quickly unwind a meaningful part of the past four sessions’ gains.
• Demand destruction: Sustained elevated prices could eventually dent global oil demand.
• Continued deceleration: If the pace of gains keeps slowing, the rally could stall even without a formal resolution.

Download the Univest iOS App or Univest Android App to track live MCX crude oil prices and get daily commodity research from SEBI registered analysts.

Conclusion

The crude oil price prediction for tomorrow, 17 July 2026, is bullish above Rs 7,580, after Thursday marked a fourth straight session of gains, albeit at a decelerating pace. Ankit Jaiswal flags Rs 7,580 as the key support in the crude oil price prediction for tomorrow, with further naval incidents or diplomatic intervention the decisive factors heading into Friday.

FAQs on the Crude oil price prediction for tomorrow

What is the crude oil price prediction for tomorrow, 17 July 2026?

Ans. The crude oil price prediction for tomorrow, 17 July 2026, is bullish above Rs 7,580. MCX Crude Oil July futures closed at Rs 7,666 on Thursday, up 0.70 percent, a fourth straight session of gains, though at a slower pace than earlier in the week.

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 7,580 as the key support level.

Why did crude oil’s rally slow down on Thursday?

Ans. Crude oil rose just 0.70 percent on Thursday, its most modest gain of the four-session rally, following an EIA report showing US crude inventories fell less than expected. The crude oil price prediction for tomorrow reads this deceleration as a sign the market may need fresh incidents to sustain further sharp upside.

Is crude oil expected to rise further on Friday?

Ans. The crude oil price prediction for tomorrow leans bullish above Rs 7,580, since the underlying Hormuz crisis remains unresolved, though the slowing pace of gains suggests the rally may be approaching a pause without a fresh escalation trigger.