Crude Oil Price Forecast for Next Week

Crude Oil Price Forecast for Next Week (9th - 13th February 2026)

Crude oil prices declined by about 2.87% over the week, while Comex crude also ended on a negative note, mainly due to easing geopolitical risk in the Middle East. Earlier in the week, prices had found some support as the US sought to expand talks beyond nuclear issues and previous evacuation advisories heightened market sensitivity to escalation risks. However, that premium eroded as diplomacy gained momentum, reinforcing expectations of a supply surplus later in the year. Additional pressure came from Saudi Arabia, which cut official selling prices for its main crude grade to Asia to the lowest level since late 2020, signaling ample supply. Still, the smaller-than- expected cut suggested Riyadh's confidence in underlying demand.

US Oil witnessed a volatile trading week, with prices showing a sideways-to-bullish bias and rising +7%, before settling at $63.49. The upmove was supported by strong buying interest near the $61- $60 support zone, which remains intact and continues to act as a key demand area. As long as this support holds, the broader structure remains constructive, although prices may face intermittent hurdles on the downside near this zone due to profit booking.

MCX Crude Oil prices, after recording four consecutive weeks of gains, witnessed mild profit booking at the start of the week; however, prices remained firmly above the support zone and closed at 5,819, registering a +7.4% weekly gain The contract continues to trade above its key 20, 50, 100 and 200 DEMA, positioned in the 5,667-5,482 range, confirming a well-established bullish structure. From an indicator perspective, momentum remains supportive, with the RSI hovering around the 57-61 zone, reflecting sustained bullish bias without entering overbought territory. The MACD remains in positive territory with a stable histogram, indicating continuation of upward momentum despite short-term consolidation. On the derivatives front, Open Interest remained volatile and declined to 11,600 lots by week-end, suggesting partial long unwinding and profit booking rather than aggressive fresh short formation.

Overall, Crude Oil prices remain in favour of bulls as long as the key support zone holds, though traders are advised to remain cautious near support levels amid intermittent volatility.

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Prediction given by Technical Research Team - Choice.