Archive · 18 Jul 2026
Crude Oil Prices Rebound Amid Supply Concerns
Crude oil prices have been very up and down this year.
They went up a lot because of worries about supply problems, especially when there was conflict between the US and Iran.
But then, in May and June, the prices went down because people weren't as worried about supply issues anymore.
Now, the prices are going up again because people are worried about supply problems once more.
Brent crude and MCX crude oil futures have gone up a lot this year.
Experts think Brent crude could go up to $100 or even $115 if it keeps going up.
But if it goes down, it could find support at $77 or $70.
Similarly, MCX crude oil futures could go up to ₹9,200 or ₹9,400 if it keeps going up, but if it goes down, it could find support at ₹7,000 or ₹6,400.
Crude oil prices have been volatile this year due to geopolitical tensions and changing market dynamics.
Brent crude futures rebounded from $70 and are now hovering around $88.
Brent crude futures could rally to $100 or even $115 if it surpasses $88.
MCX crude oil futures rebounded from ₹6,400 and are now around ₹7,945.
MCX crude oil futures could rally to ₹9,200-9,400 or even ₹10,500-₹11,000 if it surpasses ₹8,000.
- Who
- Investors and traders in the crude oil market
- What
- Crude oil prices have rebounded after a decline in May and June
- When
- The rebound started early this month
- Where
- Global crude oil markets, including Brent and MCX futures
- Why
- Renewed concerns over supply risks have supported buying interest
Bullish Outlook
Bearish Outlook
Price Movement
Bullish Outlook
Brent crude futures are likely to surpass $88 and rally to $100, potentially extending to $115.
Bearish Outlook
If the price declines, Brent futures could find support at $77 and $70, with a potential decline to $58-60.
Market Dynamics
Bullish Outlook
Renewed concerns over supply risks have supported buying interest, indicating a bullish trend.
Bearish Outlook
A breach below $70 could trigger a decline, keeping the price suppressed and potentially leading to a significant drop.
- Brent Crude Futures Current Price
- $88.10/barrel
- MCX Crude Oil Futures Current Price
- ₹7,945/barrel
- Year-to-Date Gain (Brent)
- 45%
- Year-to-Date Gain (MCX)
- 52%
- One-Year Gain (Brent)
- 27%
- One-Year Gain (MCX)
- 37%
- Key Resistance (Brent)
- $88, $100, $115-120
- Key Support (Brent)
- $77, $70, $58-60, $50
- Key Resistance (MCX)
- ₹8,000, ₹9,200-9,400, ₹10,500, ₹11,000
- Key Support (MCX)
- ₹7,000, ₹6,400, ₹5,800, ₹5,500