MCX Crude Extends Decline 2.33% to ₹7,081 as WTI Slides to $74.12 and Rupee Firms

MCX Crude has fallen ₹169/bbl, moving from ₹7,250 to ₹7,081 since the 17 Jun, 06:34 pm IST flash, extending a sustained downtrend that has now erased over ₹1,000/bbl from the 13 Jun levels near ₹8,091. This move extends the prior decline rather than reversing it. The primary mechanical driver is WTI dropping 3.48% to $74.12/bbl and Brent falling 2.20% to $77.80/bbl on the international benchmark side. A firming rupee, with USD/INR easing to 94.45 from 94.89, further amplified the downside pressure on the rupee-denominated contract by reducing import cost translation. Watch: ₹7,000 as the next key round-number support level.