MCX GOLD₹1,44,981-0.48%MCX SILVER₹2,25,223-0.78%MCX CRUDE₹8613.00+2.41%MCX COPPER₹1338.95+0.17%MCX NAT GAS₹287.30+1.38%USD / INR₹96.55+0.22%COMEX GOLD$4,124-0.56%WTI CRUDE$88.65+2.10%MCX GOLD₹1,44,981-0.48%MCX SILVER₹2,25,223-0.78%MCX CRUDE₹8613.00+2.41%MCX COPPER₹1338.95+0.17%MCX NAT GAS₹287.30+1.38%USD / INR₹96.55+0.22%COMEX GOLD$4,124-0.56%WTI CRUDE$88.65+2.10%
as of 2026-07-23 12:34 IST
BhaavBrief
India's First Commodity Intelligence · Est. 2026

Thursday, 23 July 2026

bhaavbrief.in

energyFlash

MCX Crude Rises 1.40% on Sustained Supply Risk

Source: BhaavBrief Intelligence
MCX Crude Rises 1.40% on Sustained Supply Risk

WHAT HAPPENED MCX Crude reached 8528 INR/bbl at 11:38 am IST, extending a +1.40% gain from the previous close. The move sustains the bullish momentum driven by geopolitical supply concerns that have underpinned the rally since 10:23 pm IST yesterday. Natural gas echoed strength at 287.8 INR/mmBtu (+1.55%), while gold and silver both softened—gold at 145050 INR/10g (−0.43%) and silver at 226000 INR/kg (−0.44%). USD/INR firmed to 96.53 (+0.19%).

WHAT IT MEANS Crude's consolidation above 8500 INR/bbl signals sustained risk-on positioning in energy amid geopolitical tensions. The divergence—crude and natgas climbing while precious metals retreat—suggests traders are rotating out of safe havens into commodity supply hedges. The rupee's mild firmness offers no headwind for INR-priced crude exposure.

WHAT TO WATCH The 8570 INR/bbl peak from 03:26 pm IST yesterday. A break above this level would confirm the uptrend; a dip back toward 8375 INR/bbl could signal consolidation fatigue.

Found this useful? Share it with your trading circle.