MCX Crude surges 1.93% on supply stabilisation momentum

WHAT HAPPENED MCX Crude firmed to 7567 INR/bbl at 16:22 IST, posting a +1.93% gain from the previous close. The advance extends the recovery established from the 7134 INR/bbl trough logged at 22:29 IST, as supply-side stabilisation sentiment sustains. USD/INR held steady at 95.29 INR, while natural gas climbed 3.33% to 264.1 INR/mmBtu and copper gained 0.78% to 1376.2 INR/kg.

WHAT IT MEANS Crude has now recovered 6.1% from its intraday low, signalling persistent bullish conviction among traders betting on OPEC+ supply discipline. The sustained rally despite flat rupee movement suggests global oil strength is driving Indian crude higher. Momentum traders remain positioned for continuation within the 7134–7567 INR/bbl range established over the past session.

WHAT TO WATCH The 7600 INR/bbl round number now represents the immediate resistance level. A break above here would signal fresh upside conviction; a pullback below 7450 INR/bbl would test recovery durability.