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 08/06/21

Last Price

Open

High

Low

P.Close

Volume

5046.00

5050.00

5084.00

5016.00

5074.00

46979.00

On the MCX, crude oil futures price change is about -0.56% to previous day close 5074.00. The total volume of shares traded is 46979.00.

Over the last one week mcx crude oil price change is about 1.51%. Over the last 30 days, the price change is about 8.18%.

MCX Crude Oil Live Price Chart


MCX Crude Trading System 1 :

MCX Crude Oil Live Price

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 :


MCX Crude Oil

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 6.00

* 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 65.48

Neutral

MACD

MACD : 103.26

Signal Line : 85.16

Bullish

Stochastic

%D is 92.28

%K is 89.51

Bearish

MFI

76.02

Neutral

Aroon

1.00

Bullish

Bollinger Band

BBTop is 5228.50

BBBot is 4575.70

Neutral

Simple Moving Average Short Term

SMA(15) is 4970.60

Bullish

Simple Moving Average Mid Term

SMA(45) 4804.73

Bullish

Simple Moving Average Long Term

SMA(100) 4568.94

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

10/06/21

5125.00

5067.00

5160.00

5020.00

80768.00

09/06/21

5089.00

5112.00

5150.00

5069.00

55376.00

08/06/21

5085.00

5006.00

5099.00

4992.00

64873.00

07/06/21

5046.00

5050.00

5084.00

5016.00

46987.00

04/06/21

5074.00

5018.00

5080.00

5008.00

47367.00

03/06/21

5016.00

5061.00

5079.00

4983.00

74037.00

02/06/21

5026.00

4955.00

5040.00

4955.00

57250.00

01/06/21

4938.00

4900.00

5023.00

4900.00

84181.00

31/05/21

4875.00

4849.00

4902.00

4840.00

47880.00

28/05/21

4853.00

4868.00

4905.00

4842.00

72527.00

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.

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