Crude Oil Price Prediction for Tomorrow, 29 October 2026

This crude oil price prediction for tomorrow follows a Wednesday, 28 October 2026 session in which crude oil futures on MCX rose 1.43 percent and held above the previous close of 9,498 throughout the session.

Ankit Jaiswal, Senior Research Analyst at Univest, and Kunal Singla, Associate Director at Univest, are tracking crude oil price and global cues ahead of the session tomorrow, which falls on Thursday, 29 October 2026.

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What Wednesday Told Us

• Crude Oil traded at Rs 9,634.00 per barrel, up 1.43 percent on the 19 November 2026 futures, with a high of 9,744.00 and a low of 9,617.00.
• Nifty 50 fell 0.22 percent.
• India VIX fell 0.91 percent to 16.25.

Crude Oil Price Prediction for Tomorrow: Key Levels

Crude Oil (19 November 2026 futures) traded between 9,617.00 and 9,744.00 on Wednesday, against a previous close of 9,498.00, and settled at 9,634.00. On the downside, 9,617.00 and 9,498.00 are the first reference levels to watch if the day's move is tested. On the upside, 9,744.00 marks the nearest resistance. Univest's analysts treat these as reference points drawn from Wednesday's trading range, not as targets.

Trend	Support	Resistance
Positive	9,617.00, 9,498.00	9,744.00

MCX contracts keep trading into the evening, so the last traded price can differ from the figures above by the time you read this. The levels here use the 19 November 2026 contract.

For traders, this crude oil price prediction for tomorrow is a framework for planning risk, with position size and stop levels left to the individual.

Key Drivers for Tomorrow

• Crude oil rose 1.43 percent on the MCX 19 November contract, with a high of 9,744.00 and a low of 9,617.00.
• The low of 9,617 sat well above the previous close of 9,498, so the whole session traded higher.
• India imports most of its crude, so higher oil prices usually add to pressure on inflation and the rupee.

Ankit Jaiswal and Kunal Singla suggest revisiting this crude oil price prediction for tomorrow after the first thirty minutes of Thursday's trade.

Anyone following this crude oil price prediction for tomorrow should keep the next session's opening range in view before reading too much into early moves.

What to Watch Alongside Crude Oil

Reliance Industries and Oil and Natural Gas Corporation are the large-cap stocks most often linked to crude moves. Both fell on Wednesday, with Reliance down 3.19 percent and ONGC down 2.16 percent, even as crude rose.

How Wednesday's Broader Session Unfolded

The Nifty 50 closed at 22,698.85, down 0.22 percent, with a high of 22,778.05 and a low of 22,497.70. The Sensex closed at 73,246.03, down 0.48 percent, while the Bank Nifty closed at 54,267.40, up 0.54 percent. India VIX, the market's fear gauge, fell 0.91 percent to 16.25, after touching 17.36 during the session. The Nifty 50 recovered about 200 points from its low but is still about 1.9 percent below its close of 23,146.15 on 16 October. The Nifty Midcap 50 rose 0.54 percent while the Nifty Next 50 fell 0.06 percent, so the broader market was mixed. Nifty Auto rose 1.45 percent and Nifty Pharma rose 1.02 percent, while Nifty IT fell 1.98 percent and Nifty FMCG fell 0.57 percent. The trigger for the divergence was not independently confirmed.

Univest's analysts suggest treating this crude oil price prediction for tomorrow as a preparation note for Thursday, 29 October 2026, rather than a signal that changes overnight.

Analyst View for Tomorrow

Kunal Singla suggests that crude can stay constructive above 9,617, Wednesday's low, with 9,744 the resistance to clear.

Ankit Jaiswal flags that energy stocks fell while crude rose, so the link between the commodity and the equities is not reliable right now.

This crude oil price prediction for tomorrow will be most useful when read alongside the support and resistance table above.

Why This Is Written for Tomorrow

This crude oil price prediction for tomorrow is written after the close on Wednesday, 28 October 2026, using Wednesday's closing data, for the next trading session tomorrow, Thursday, 29 October 2026. Treat it as a briefing to prepare for that session, not a live call that updates through the evening.

MCX futures trade into Wednesday night, so global moves late on Wednesday can shift Thursday's opening price.

A fair reading of this crude oil price prediction for tomorrow is that Wednesday's data sets the context, while Thursday's first hour decides how much of it carries forward.

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Risks to This Prediction

• Supply headlines from major producers overnight can gap crude sharply at the open.
• A pullback could take prices back toward the previous close of 9,498.
• Higher crude can add to input-cost pressure for oil-consuming sectors.

Readers comparing views should note that this crude oil price prediction for tomorrow draws only on Wednesday's closing numbers and the factors listed here.

As with any crude oil price prediction for tomorrow, the opening minutes of Thursday's trade will confirm or challenge the levels discussed here.

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The crude oil price prediction for tomorrow also depends on India VIX, so a fresh rise in volatility would weaken the case made here.

Conclusion

The crude oil price prediction for tomorrow leans mildly constructive into 29 October 2026, with global cues and the US Dollar Index as the key variables to track. Ankit Jaiswal and Kunal Singla will revisit this view once Thursday's opening trade confirms direction.

Disclaimer: Investments in securities are subject to market risk. Read all related documents carefully before investing. The information provided here is for educational purposes only and does not constitute investment advice. Univest is a SEBI-registered investment adviser (Registration No. INH000013776). Past performance is not indicative of future returns.

Frequently Asked Questions

What is the crude oil price prediction for tomorrow?

Ans. It is mildly constructive for 29 October 2026, after Crude Oil traded at Rs 9,634.00 per barrel on Wednesday, up 1.43 percent.

Why is this a prediction for tomorrow, 29 October 2026?

Ans. Because it is written after the close on Wednesday, 28 October 2026, for the next regular trading session on Thursday, 29 October 2026.

Why did crude oil rise on Wednesday?

Ans. Crude oil rose 1.43 percent on the MCX 19 November contract. The specific trigger was not independently confirmed.

How does crude oil affect Indian stocks?

Ans. Higher crude raises import costs and inflation concerns, which tends to weigh on oil marketing companies, paints and aviation, while upstream producers can benefit.

Is this a buy or sell call?

Ans. No. This is an educational outlook from Univest's research team, not a buy or sell call. Traders should check any view against their own risk plan before acting.