MCX Crude surges +6.67% on supply anxiety reversal

WHAT HAPPENED MCX Crude rallied to 8110 INR/bbl at 10:17 pm IST, posting a +6.67% gain from the previous close. The sharp recovery reverses a sustained pullback from the 8961 INR/bbl peak logged at 10:25 pm IST on 24 January. USD/INR eased to 95.64 INR (-0.14%), while natural gas edged up +0.69% to 262.8 INR/mmBtu, signalling renewed risk appetite in energy markets.

WHAT IT MEANS The 567 INR rally within 48 hours signals shifting sentiment on crude supply concerns. For MCX futures traders, the price has retraced nearly 90% of the prior decline, now testing intermediate resistance. Cross-asset softness in gold (-0.43%) and silver (-0.23%) contrasts with crude's strength, suggesting commodity rotation rather than broad risk-off positioning.

WHAT TO WATCH 8150 INR/bbl marks the next barrier toward yesterday's 8961 peak. A close above 8150 would signal conviction; failure there risks renewed pullback toward 7959 support.