Crude Oil Price Prediction for Tomorrow, 5 November 2026

This crude oil price prediction for tomorrow follows a Wednesday, 4 November 2026 session in which crude oil futures on MCX fell 0.92 percent after a range between 8,948 and 9,189, and stayed below the previous settlement all day.

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, 5 November 2026.

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What Wednesday Told Us

• Crude Oil traded at Rs 9,020.00 per barrel, down 0.92 percent on the 19 November 2026 futures, with a high of 9,189.00 and a low of 8,948.00.
• Nifty 50 rose 0.63 percent.
• India VIX fell 3.37 percent to 15.19.

Crude Oil Price Prediction for Tomorrow: Key Levels

Crude Oil (19 November 2026 futures) traded between 8,948.00 and 9,189.00 on Wednesday, against a previous close of 9,104.00, and settled at 9,020.00. On the downside, 8,948.00 is the first reference level to watch if the day's move is tested. On the upside, 9,104.00 and 9,189.00 mark the nearest resistance. Univest's analysts treat these as reference points drawn from Wednesday's trading range, not as targets.

Trend	Support	Resistance
Negative	8,948.00	9,104.00, 9,189.00

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 0.92 percent on the MCX 19 November contract, with a high of 9,189.00 and a low of 8,948.00.
• The high of 9,189 rose above the previous settlement of 9,104, but the price could not stay there.
• 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 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.

Nothing in this crude oil price prediction for tomorrow is a promise of returns, and every level quoted can fail.

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 Wednesday, Reliance rose 0.24 percent and ONGC rose 1.22 percent, so both energy names gained even as the crude contract slipped.

How Wednesday's Broader Session Unfolded

The Nifty 50 closed at 23,960.60, up 0.63 percent, with a high of 23,960.60 and a low of 23,696.15, so it finished at the best level of the day after opening about 69 points below Tuesday's close. The Sensex closed at 77,301.40, up 0.50 percent, and the Bank Nifty closed at 55,913.60, up 0.67 percent. India VIX, the market's fear gauge, fell 3.37 percent to 15.19, after ranging between 15.13 and 16.15 during the session. This was the fourth straight daily gain for both the Nifty 50 and the Sensex, and the Nifty 50 is now about 3.5 percent above its close of 23,146.15 on 16 October. The Nifty Midcap 50 rose 1.42 percent, the Nifty Next 50 rose 1.68 percent and the Nifty Smallcap 250 rose 1.97 percent, so the rise was broader than the headline index. Nifty Metal rose 2.80 percent and Nifty FMCG rose 1.50 percent, while Nifty IT fell 1.50 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 Thursday, 5 November 2026, rather than a signal that changes overnight.

Analyst View for Tomorrow

Kunal Singla suggests that crude needs to reclaim 9,104, the previous settlement, to improve the tone, with 8,948 the support to watch.

Ankit Jaiswal flags that the price failed to hold above the previous settlement after touching 9,189, so sellers are active near that area.

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, 4 November 2026, using Wednesday's closing data, for the next trading session tomorrow, Thursday, 5 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 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 rebound could lift prices back toward the previous settlement of 9,104 and Wednesday's high of 9,189.
• Lower crude can reduce support for upstream stocks.

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 cautious into 5 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 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 cautious for 5 November 2026, after Crude Oil traded at Rs 9,020.00 per barrel on Wednesday, down 0.92 percent.

Why is this a prediction for tomorrow, 5 November 2026?

Ans. Because it is written after the close on Wednesday, 4 November 2026, for the next regular trading session on Thursday, 5 November 2026.

Why did crude oil slip on Wednesday?

Ans. Crude oil fell 0.92 percent on the MCX 19 November contract after a range of about 241 rupees. 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.