MCX Crude Oil Live Price Today
Here is the latest mcx crude oil live price analysis and charts.
MCX Crude Oil Live Price as on 15/01/24
Last Price | Open | High | Low | P.Close | Volume |
|---|---|---|---|---|---|
5963.00 | 6053.00 | 6061.00 | 5920.00 | 6045.00 | 18736.00 |
On the MCX, crude oil futures price change is about -1.23% to previous day close 6045.00. The total volume of shares traded is 18736.00.
Over the last one week mcx crude oil price change is about -0.67%. Over the last 30 days, the price change is about 8.22%.
MCX Crude Oil Live Price Chart
MCX Crude Trading System 1 :
How to Trade the MCX Crude Oil Intraday Signals Live Price Chart
BUY Trade Entry | Green up arrow & candle stick must trade above the yellow trend line. |
BUY Trade Exit | Trail Stop-loss as per green dotted lines or stop loss price given in text box or when a candle stick crosses below the yellow trend Line |
SELL Trade Entry | Red Down arrow & candle stick must trade below the yellow trend line. |
SELL Trade Exit | Trail Stop-loss as per red dotted lines or stop loss price given in text box or when a candle stick crosses above the yellow trend Line |
We also expect the commodity crude oil futures to react on the above support and resistance levels for today.
*The below MCX Crude Oil Live Price Charts are updated every 10 mins with auto refresh.
MCX Crude Oil Trading System 2 :
How to Trade the MCX Crude Oil Multiple Super Trend Chart
BUY Trade Entry | When both super trend indicators are in uptrend. In other words two green stop loss lines below the candlestick. |
BUY Trade Exit | When either of the super trend goes in downtrend. |
SELL Trade Entry | When both super trend indicators are in downtrend. In other words two red stop loss lines above the candlestick |
SELL Trade Exit | When either of the super trend goes in uptrend. |
We have further improved the famous super trend strategy by using two different super trend indicators for generating trade call signals. The strategy increase profits by almost 70% by using two super trend indicators and also helps in exiting fast from the market when the trend is not intact.
MCX Crude Oil Price Technical Analysis
Quant's Today Trend score for MCX Crude Oil is 3.00
* A trend score of greater than 5 signals that the commodity is bullish for the day while trend score of less than 2 signals bearish trend*
Indicator | Value | Signal |
|---|---|---|
RSI | RSI is 56.86 | Neutral |
MACD | MACD : 97.34 Signal Line : 129.39 | Bearish |
Stochastic | %D is 43.09 %K is 34.45 | Bearish |
MFI | 43.88 | Neutral |
Aroon | 0.00 | Bearish |
Bollinger Band | BBTop is 7335.01 BBBot is 6728.89 | Neutral |
Simple Moving Average Short Term | SMA(15) is 7104.60 | Bearish |
Simple Moving Average Mid Term | SMA(45) 6776.47 | Bullish |
Simple Moving Average Long Term | SMA(100) 6422.31 | Bullish |
MCX Crude Oil Interactive Real Time 5 Mins Intraday Chart
MCX Crude Oil Overview
Crude oil is a fossil fuel formed over millions of years from the decomposition of fossils buried in the sedimentary layer of the earth’s crust. It is a mixture of different hydrocarbons. Components generally contained in crude oil are Carbon (up to 84%), Hydrogen (up to 14%), and small amounts of Sulphur, nitrogen, oxygen, minerals, and salts.
Up to forty-eight percent of the world’s known and identified oil reserves are located in the Middle Eastern countries. The rest of the oil mining industry is scattered around Africa, North & South America, parts of Europe and Asia. OPEC or the Organization of Petroleum Exporting Countries controls almost seventy-five percent of the world’s crude oil reserves and more than half of the crude oil traded internationally. The organization plays an essential part in determining the price of crude oil worldwide.
Importance of Crude Oil
Ever since the industrial revolution, the importance of crude oil has risen for all humankind. Crude oil and its derivatives are not only used as fuel to power cars, buses, airplanes, ships, etc. but also play a massive role in the manufacturing of plastic products, synthetic fabrics such as polyester, cosmetics, and fertilizers. Due to the crucial role it plays in creating the urban lifestyle – it is often referred to as ‘black gold.’
Different Types Of Crude Oil
As mentioned above, the quality of crude oil differs according to the composition of hydrocarbons in its natural form. The structure of hydrocarbons, which is unique to each region of oil mining – affects the viscosity, density, and flashpoint of the oil. Some of the most prominent types of crude oil traded internationally are –
- Brent Crude – Low viscosity and sulfur content. Found commonly in the North Sea. Considered similar in quality to WTI.
- Dubai Crude – A dense variety, with high viscosity and sulfur content. They are usually traded in the Middle East.
- West Texas Intermediate (WTI) – This is the most popular type of crude oil traded internationally. Easy to refine due to the lowest viscosity and sulfur content. Known as the ‘light and sweet’ crude oil.
- Bonny Light – This variety of is found in Nigeria. The specifics of Bonny Light are a benchmark for all qualities of crude oil traded internationally from Africa. It is also low in viscosity and sulfur content.
Top producers of Crude Oil
The list of countries producing the most oil is topped by Russia. They deliver upwards of ten billion barrels of crude oil each day. They are closely followed by Saudi Arabia, which also produces a bit more than ten billion barrels every day.
Top 10 Oil-producing countries
S.No | Country Name | Oil Production (Barrels per day) |
|---|---|---|
1 | Russia | 10,500,000 |
2 | Saudi Arabia | 10,460,000 |
3 | United States of America | 8,875,000 |
4 | Iraq | 4,450,000 |
5 | Iran | 3,990,000 |
6 | China | 3,980,000 |
7 | Canada | 3,660,000 |
8 | United Arab Emirates | 3,100,000 |
9 | Kuwait | 2,900,000 |
10 | Brazil | 2,500,000 |
However, it has been estimated that the most abundant natural reserves of crude oil lie in Venezuela. The latest estimate shows that Venezuela may have more than three hundred and sixteen billion barrels of oil reserves in their country. Unfortunately, they lag far behind in the production and export of oil. Other countries with significant oil reserves are Saudi Arabia and Canada – each with close to two hundred million barrels of oil reserves.
Uses of Crude Oil
Some of the essential uses or benefits are as below –
To produce energy: When burnt, it produces heat and energy, which is used widely to power machinery, vehicles, and airplanes.
To manufacture lubrication oil: Lubrication oil is an essential factor for the maintenance and smooth running of machinery in all industries. Machine oil or lubrication oil is a derivative of crude oil.
To produce asphalt: Most of the modern roadways around the world are built using asphalt, which is produced using crude oil. It makes laying roads cheaper and efficient.
Textile production: Most synthetic fibers like polyester are manufactured with the help of crude oil
Manufacturing consumer products: Products such as soaps, detergents, and household cleaning products are manufactured using crude oil.
Factors influencing the price of Crude Oil
- Demand and supply forces: Like every commodity, the effects of demand and supply play a significant role in influencing the prices of crude oil around the world. An increase in supply causes the prices to lower, while a decrease in the production is likely to hike the rates of crude oil.
- OPEC output and supply: OPEC countries control a significant chunk of the world’s oil reserves. The decisions taken by this organization are watched closely by governments and corporates alike. Though OPEC may not be able to alter the oil prices to suit themselves permanently, their decisions often cause significant developments by influencing price expectations in the crude oil market.
- Geopolitical scenario: If an oil-producing country faces a geopolitical crisis or a war-like situation, it is likely to reduce the production of oil in its territory. Thus bringing down the global supply of oil and influence the prices in the long run. For example, the recent unrest in Venezuela caused the supply of crude oil to go down significantly. Such developments have a long term effect on crude oil prices.
- Economic development: Asian and African countries, which are firmly on the path of development, have continually increased their demand for oil to support industrial production and boost the economic growth of their region. Steadily rising demand for oil from these parts of the world brings about an increase in prices.
- Rise of Non-OPEC suppliers: Even though OPEC countries hold most of the world’s oil reserves, the past decades have seen new-age oil producers such as the United States of America and Canada gain mileage in the crude oil industry. They are oil-producing nations who are not under the influence of OPEC and may influence prices of crude oil by supplementing the supply wherever OPEC cuts down.
- Reports: Reports on production, pricing targets, capacity, and investments by renowned research agencies can also be a crucial factor in deciding the crude oil prices. Apart from such reports from OPEC and International Energy Agency, the National Bureau of Statistics of China is also held in high regard in this market.
Reasons to Invest in Crude Oil
- Diversification: Oil commodities are not influenced by price changes and fluctuations in traditional portfolio investments. So, if an investment portfolio predominantly comprises fixed-income assets or equity investments, it could be diversified with a stake in oil commodities. It will help reduce risk and countering price movements.
- Safety: Market turbulence may affect equity investments adversely. However, investments in commodities tend to retain their value even in times of global economic turmoil. Oil commodities are an essential component in this basket of safe investments.
- Inflation: A lot of investments are influenced by currency value and inflation in the long run. Oil commodities are backed by strong global demand, which is continuously increasing. Therefore, changes in currency value and changes in inflation are less likely to affect investments in oil commodities.
- Volatile pricing: Oil prices are always moving upwards or downwards. Fluctuations in oil prices are known to go up to ten percent in a single trading session. For those looking to make a quick profit, investment in oil futures and derivatives is an attractive option.
Risks of investing in Crude Oil
- Price volatility: The constant fluctuations in oil prices caused by a shortage of supply has shown that investments in oil commodities are not for the risk-averse. The risk of loss due to factors beyond the trader’s control is high.
- Dividend reductions: Often, oil companies pay significant dividends to their investors. Though this promises a reasonably regular income to investors, the profits may not always be as high as promised. Crude oil price fluctuations and loss of revenue may result in oil companies reducing the dividends being paid to investors at any time.
- Risk of the oil spill: Extraction of crude oil is a complicated and risky process. A single incident of the oil spill or an accident at an oil rig is bound to make the company’s share prices plummet.
Contract Specifications of Crude Oil
Symbol | CRUDEOIL |
Description | CRUDEOILMMMYY |
Contract Listing | Contracts are available as per the Contract Launch Calendar |
Contract Start Day | 6 months in advance is launched. As per the Contract Launch Calendar |
Last Trading Day | Contracts expire on or around 19th or 20th of the expiry month, 6 months later. |
Price Quote | Rs. Per barrel |
Lot size | 100 barrels |
Tick Size | Rs.1 per barrel /- |
Profit/Loss made for every ₹ 1 change | Rs.100 /- |
Trading Period | Monday to Friday |
Trading Timings | 10.00 a.m. to 11.30/ 11.55 p.m |
Commodity Group | Oil & Energy |
Instrument Type | COMMODITY FUTURES |
Initial Margin | Minimum 4% or based on SPAN whichever is higher. |
Contract Launch Calendar
Contract Month | Contract Launch Date | Contract Expiry Date |
|---|---|---|
January 2018 | 20th July 2017 | 19th January 2018 |
February 2018 | 22nd August 2017 | 16th February 2018 |
March 2018 | 20th September 2017 | 19th March 2018 |
April 2018 | 20th October 2017 | 19th April 2018 |
May 2018 | 20th November 2017 | 21st May 2018 |
June 2018 | 19th December 2017 | 19th June 2018 |
July 2018 | 22nd January 2018 | 19th July 2018 |
August 2018 | 19th February 2018 | 20th August 2018 |
September 2018 | 20th March 2018 | 19th September 2018 |
October 2018 | 20th April 2018 | 19th October 2018 |
November 2018 | 22nd May 2018 | 16th November 2018 |
December 2018 | 20th June 2018 | 18th December 2018 |
* Contract Launch Calendar Source MCXINDIA https://www.mcxindia.com/home
MCX Crude Oil Price History
Date | Price | Open | High | Low | Volume |
|---|---|---|---|---|---|
18/04/24 | 6931.00 | 6928.00 | 6984.00 | 6818.00 | 9287.00 |
17/04/24 | 6934.00 | 7109.00 | 7115.00 | 6911.00 | 27619.00 |
16/04/24 | 7137.00 | 7191.00 | 7192.00 | 7091.00 | 18723.00 |
15/04/24 | 7132.00 | 7126.00 | 7166.00 | 7029.00 | 30180.00 |
12/04/24 | 7195.00 | 7140.00 | 7322.00 | 7134.00 | 27598.00 |
11/04/24 | 7095.00 | 7168.00 | 7169.00 | 7081.00 | 11099.00 |
10/04/24 | 7134.00 | 7125.00 | 7148.00 | 7085.00 | 4530.00 |
09/04/24 | 7098.00 | 7213.00 | 7236.00 | 7086.00 | 15168.00 |
08/04/24 | 7171.00 | 7129.00 | 7248.00 | 7112.00 | 23908.00 |
05/04/24 | 7286.00 | 7198.00 | 7296.00 | 7188.00 | 22648.00 |
Get MCX Live Price of the major commodities listed on the multi-commodity change of India. Technical Live Price analysis & price charts of the commodity MCX Crude Oil is researched every day and updated daily.
