Crude Oil Price Forecast for Next Week

Crude Oil Price Forecast for Next Week (28th  July - 1st August 2025)

Crude oil prices edged higher during the week, supported by optimism around U.S. trade negotiations and tightening diesel markets. A sharper-than-expected draw in U.S. crude inventories, coupled with easing tensions with Japan and the EU, helped lift sentiment. However, upside remained capped by renewed global uncertainties and persistent concerns over a potential supply glut. OPEC’s reaffirmation of a steady demand outlook, ahead of its August 3 meeting, will be closely watched for further direction along with the FOMC meet.

MCX Crude oil August contract has been traded back & forth over the course of the past couple of weeks and closed on a negative note at 5643, plunged by -2.59%. Price has remained below its key moving averages i.e. 50 and 200-DEMA levels placed at 5698 and 5840 respectively. Key support would be at 5508 and breakout of this level will initiate downside momentum in Crude oil price in upcoming sessions. Daily SAR is placed on an opposite side at 5935 which is a crucial hurdle to breakthrough. RSI levels remained just below 50 level on all key timeframes.

We are expecting Sideways trend in Crude oil price in upcoming session in a range of 5600 – 5800 and traders may wait to breakout key levels for either side of momentum.

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Prediction given by Technical Research Team - Choice.