Crude oil futures on Wednesday fell ₹10 to ₹5,366 per barrel as renewed supply from Russia and rising US inventories weighed on investor sentiment.
On the Multi Commodity Exchange (MCX), crude oil futures for December delivery slipped by ₹10, or 0.19%, to ₹5,366 per barrel in a business turnover of 11,935 lots.
Similarly, the January 2026 contract dipped ₹3, or 0.06%, to ₹5,369 a barrel in 1,150 lots.
31 October 2025
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"Crude oil was highly volatile due to sanctions on Russian oil and the US President Donald Trump's threat to impose a 500% tariff on countries importing Russian crude," Rahul Kalantri, Vice President of Commodities at Mehta Equities, said.
In the international markets, West Texas Intermediate (WTI) crude oil for December delivery was trading 0.12% lower at USD 60.67 per barrel, while Brent Crude for the January 2026 contract dipped 0.20% to USD 64.75 a barrel.
Brokerage firm Kotak Securities, in a market note, said crude oil prices slipped to USD 60.5 per barrel as traders turned cautious ahead of the Energy Information Administration (EIA) report after the American Petroleum Institute (API) reported a large build in US crude inventories, showing an increase of 4.4 million barrels for the week ending November 14.
The Energy Information Administration (EIA), an independent agency under the US Department of Energy, publishes weekly inventory data tracking the volume of commercial crude oil held by US firms, offering a key gauge of market balance.
"Crude oil prices on Tuesday closed over 1% higher near USD 61 per barrel, on speculation that the European Union may tighten sanctions on Russia after its top diplomat indicated stronger restrictions, following an explosion in Poland," Kotak Securities said.
