MCX Crude crashes 5.18% as supply concerns fade

WHAT HAPPENED MCX Crude plunged to 7545 INR/bbl at 10:27 pm IST, extending a -5.18% decline from the previous close. The retreat continues the pullback from yesterday's 8961 INR/bbl peak as geopolitical supply anxieties moderate. USD/INR softened -0.75% to 95.84 INR, while natural gas weakened -3.14% to 256.2 INR/mmBtu across the complex.

WHAT IT MEANS Crude has surrendered 1416 INR/bbl from yesterday's spike, signaling profit-taking and a recalibration of supply-shock premiums. The rupee's concurrent weakness provides limited cushion. Traders face renewed downside momentum with crude now firmly below 7600 INR/bbl—a critical support zone.

WHAT TO WATCH The 7400 INR/bbl floor is next. A hold above that level suggests consolidation; a break would expose 7200 INR/bbl and test the durability of the recent reversal.