Crude Oil Price in India at ₹5,454 Falls Amid Easing Middle East Tensions

Crude oil price softened on Friday as geopolitical tensions in the Middle East eased following the initial phase of a Gaza ceasefire. The market’s war-related risk premium declined, contributing to a modest correction after oil prices had dropped more than 1 percent in the previous session.

By 4:08 GMT, Brent crude futures were down 12 cents, or 0.18 percent, at $65.10 per barrel, while U.S. West Texas Intermediate (WTI) crude fell 7 cents, or 0.11 percent, to $61.44 per barrel. 

Gaza Ceasefire and Its Impact

The ceasefire, forming the first stage of a U.S.-led plan, involves a partial withdrawal of Israeli forces from Gaza and the release of hostages by Hamas in exchange for hundreds of Palestinian prisoners. This development has stabilised the market sentiment, easing worries over immediate oil supply interruptions. 

Earlier in the week, crude oil price had climbed to a one-week high due to stalled peace talks in Ukraine and potential sanctions on Russia, the world’s second-largest oil exporter. Despite Friday’s decline, Brent and WTI gained approximately 1.2 percent for the week, recovering some of the previous week’s losses.

Focus Shifts to Oversupply

With the reduction in geopolitical risk, market attention has returned to supply concerns. OPEC+ is expected to gradually unwind its production cuts, which could lead to higher global crude availability in the coming months. Traders keep a close watch on the implications of this strategy on short-term pricing trends.

Crude Oil Price Trends in India (MCX)

As of 9:53 AM IST on October 10, 2025, crude oil futures for October 20, 2025 expiry on the MCX were trading at ₹5,454 per barrel, down ₹8 or 0.15% from the previous close of ₹5,462. The contract opened at ₹5,475 and has moved between ₹5,453 and ₹5,475 so far, with a trading volume of 865 lots. 

The spot price stood at ₹5,664 per barrel, while the average traded price was ₹5,461.01. The open interest was recorded at 11,081 contracts, marking a 1.58% decline. The best buy price was ₹5,453 for 5 lots, and the best sell price was ₹5,455 for 14 lots.

In Mumbai, the crude oil spot price stood at ₹5,664 per barrel with no percentage change, trading at a discount of ₹200, indicating a stable price trend for the day.

Crude Oil vs Other Energy Commodities 

Note: All data and price movements are based on market updates as of 9:54 AM IST on October 10, 2025. 

Read more: Crude Oil Prices Slip as Gaza Peace Progress and Rising US Inventories Shape Market Sentiment

Conclusion

Overall, crude oil price movements remain influenced by a combination of geopolitical developments and global supply dynamics. The easing of tensions in the Middle East has provided short-term relief, while attention has shifted to production and inventory levels that could impact oil prices in the months ahead.

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