In the realm of international trade and economic analysis, certain commodities hold a position of exceptional prominence due to their value, utility, and global demand. Among these, crude oil stands out not only for its economic significance but also for its symbolic identities - Crude Oil as “Black Gold” This commodity occupies a central place in global economic discourse and financial systems, shaping national policies, investor behaviour, and market sentiment across the world. Their importance is reflected in the vast volume of research, media attention, and policy debates surrounding them. The title of this study, “A study on Oil price volatility: A macroeconomic perspective” reflects a focused academic inquiry into this critical commodity. This methodical approach allows for a structured investigation into the behaviour of crude oil, providing insights that are not only academically valuable but also practically relevant for investors and policymakers. The methodology adopted in this research emphasises simplicity and clarity, focusing on observable patterns and statistical analysis without overcomplicating the interpretive framework. The behaviour of crude oil prices is not solely determined by supply-demand fundamentals or immediate global shocks; it is also significantly influenced by key macroeconomic variables. Among the most critical are the Federal Reserve’s interest rate decisions and exchange rate movements, particularly between the US dollar and other currencies such as the Indian Rupee (INR). The study considers the impact of key macroeconomic variables on crude oil prices. The findings indicate that Crude oil prices respond more sensitively to macroeconomic factors such as the Federal Fund rate and Exchange Rate movements.