Crude Oil Price Prediction for Tomorrow, 3 November 2026

This crude oil price prediction for tomorrow follows a Monday, 2 November 2026 session in which crude oil futures on MCX fell 4.71 percent and closed close to the day's low of 9,455, well below the previous close of 9,937.

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 Tuesday, 3 November 2026.

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What Monday Told Us

• Crude Oil traded at Rs 9,469.00 per barrel, down 4.71 percent on the 19 November 2026 futures, with a high of 9,614.00 and a low of 9,455.00.
• Nifty 50 rose 1.68 percent.
• India VIX rose 1.31 percent to 15.50.

Crude Oil Price Prediction for Tomorrow: Key Levels

Crude Oil (19 November 2026 futures) traded between 9,455.00 and 9,614.00 on Monday, against a previous close of 9,937.00, and settled at 9,469.00. On the downside, 9,455.00 is the first reference level to watch if the day's move is tested. On the upside, 9,614.00 and 9,937.00 mark the nearest resistance. Univest's analysts treat these as reference points drawn from Monday's trading range, not as targets.

Trend	Support	Resistance
Negative	9,455.00	9,614.00, 9,937.00

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 fell 4.71 percent on the MCX 19 November contract, with a high of 9,614.00 and a low of 9,455.00.
• The contract opened at 9,592, already well below the previous close, and then drifted lower.
• India imports most of its crude, so lower oil prices usually ease 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 Tuesday'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. On Monday, Reliance rose 11.60 percent and ONGC rose 4.19 percent, so the equities moved sharply higher even as crude fell.

How Monday's Broader Session Unfolded

The Nifty 50 closed at 23,440.80, up 1.68 percent, with a high of 23,440.80 and a low of 23,207.05, so it finished at the best level of the day. The Sensex closed at 75,692.78, up 1.66 percent, and the Bank Nifty closed at 55,002.20, up 0.58 percent. India VIX, the market's fear gauge, rose 1.31 percent to 15.50, after ranging between 14.55 and 15.92 during the session. The Nifty 50 closed about 1.3 percent above its close of 23,146.15 on 16 October. The Nifty Midcap 50 rose 1.24 percent and the Nifty Next 50 rose 1.85 percent, so the rise was broad. Nifty Metal rose 3.21 percent and Reliance Industries rose 11.60 percent, while Nifty IT fell 0.50 percent and Nifty Private Bank fell 0.14 percent. The trigger for the broad rise was not independently confirmed.

Univest's analysts suggest treating this crude oil price prediction for tomorrow as a preparation note for Tuesday, 3 November 2026, rather than a signal that changes overnight.

Analyst View for Tomorrow

Kunal Singla suggests that crude needs to reclaim 9,614, the day's high, to improve the tone, with 9,455 the support to watch.

Ankit Jaiswal flags that a fall of nearly 5 percent in one session is large, so traders should expect wide swings and possible gaps tomorrow.

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 Monday, 2 November 2026, using Monday's closing data, for the next trading session tomorrow, Tuesday, 3 November 2026. Treat it as a briefing to prepare for that session, not a live call that updates through the evening.

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

A fair reading of this crude oil price prediction for tomorrow is that Monday's data sets the context, while Tuesday'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 rebound could lift prices back toward Monday's high of 9,614.
• Lower crude can reduce support for upstream stocks.

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

As with any crude oil price prediction for tomorrow, the opening minutes of Tuesday'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 cautious into 3 November 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 Tuesday'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 cautious for 3 November 2026, after Crude Oil traded at Rs 9,469.00 per barrel on Monday, down 4.71 percent.

Why is this a prediction for tomorrow, 3 November 2026?

Ans. Because it is written after the close on Monday, 2 November 2026, for the next regular trading session on Tuesday, 3 November 2026.

Why did crude oil fall on Monday?

Ans. Crude oil fell 4.71 percent on the MCX 19 November contract. The specific trigger was not independently confirmed.

How does crude oil affect Indian stocks?

Ans. Lower crude eases import costs and inflation concerns, which tends to help oil marketing companies, paints and aviation, while upstream producers can face pressure.

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.