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Published on 19/11/2019 10:12:05 AM | Source: Kedia Commodity Ltd

Sell Crudeoil Nov 2019 @ 4150 SL 4180 TGT 4120-4090.MCX - Kedia Commodities

Posted in Commodities Reports| #Kedia Commodity Ltd #Commodity Tips

Crude Oil

* Crude oil trading range for the day is 4008-4196.

* Crude oil dropped due to excess supply in the market and on uncertainty over a potential trade deal between the U.S. and China.

* U.S. shale production is likely to climb by 49,000 barrels a day in December to 9.133 million barrels a day.

* Saudi Arabia's crude oil exports in September fell by 3% to 6.67 million barrels per day (bpd) from 6.88 million bpd in August, official data showed.

* Crude stocks fell by 20.27 million bpd to 152.48 million bpd while domestic refinery crude throughput rose by 10,000 bpd to 2.584 million bpd.

* SELL CRUDEOIL NOV 2019 @ 4150 SL 4180 TGT 4120-4090.MCX

 

Natural Gas

* Natural gas trading range for the day is 180.4-196.2.

* Natural gas fell on forecasts for weather over the next two weeks that will be warmer than previously expected.

* Utilities likely pulled 79 billion cubic feet (bcf) of gas from storage during the week ended Nov. 15, their first withdrawal of the November-March heating season.

* Speculators last week cut their net short positions on the NYMEX and Intercontinental Exchange by 17,690 contracts to 69,145.

* Gas production in the Lower 48 states held at 95.1 bcfd for a second day in a row, according to Refinitiv data.

* BUY NAT GAS NOV 2019 @ 187.00 SL 185.00 TGT 190.00-192.00.MCX

 

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