MCX Crude Eases on Profit-Taking After Recovery

WHAT HAPPENED MCX Crude slipped to 9815 INR/bbl at 01:58 am IST, posting a -0.04% decline as traders booked profits following the multi-leg recovery that peaked at 9927 INR/bbl at 02:06 pm IST yesterday. USD/INR held steady at 95.95 INR (+0.01%), offering no fresh rupee support. Gold surged +1.42% to 152950 INR/10g, while silver climbed +1.36% to 235275 INR/kg, signaling broad-based safe-haven demand.

WHAT IT MEANS The -0.04% pullback reflects typical consolidation after a sharp +2.16% rally. Crude remains trapped in a narrow range between support at 9927 INR/bbl and the earlier peak, with rupee stability removing currency tailwinds. Safe-haven outperformance in gold and silver suggests underlying risk-off sentiment that could cap crude upside near-term.

WHAT TO WATCH Watch the 9800 INR/bbl support level. A break below triggers a test of the 9700 zone; a bounce back above 9900 INR/bbl confirms recovery momentum.