Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
* Crudeoil trading range for the day is 3592-3766.
* Crude oil dropped as news of U.S. crude production rising to an all-time high added to worries of a new glut forming.
* OPEC leaves 2019 global oil demand growth forecast unchanged at 1.29mbpd and trims 2019 non-OPEC oil supply growth forecast by 60bpd to 2.1mbpd
* OPEC says Decembers oil output fell by 751k bpd to 31.58mbpd, led by cuts in Saudi Arabia, Libya and Iran
* U.S. crude production quickly approached an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge.
* BUY CRUDEOIL 18 JAN 2019 @ 3670 SL 3640 TGT 3720-3760.MCX
* Naturalgas trading range for the day is 234.6-262.2.
* Natural gas ended slightly firmer as news of a small weekly withdrawal offset forecasts that extreme cold will blanket much of the nation through February.
* The U.S. EIA said utilities pulled just 81 billion cubic feet (bcf) of gas from inventories during the warmer than normal week ended Jan. 11.
* Cold forecasts for the next few weeks sparked renewed concerns about low stockpiles and revived the extreme volatility seen at the end of 2018.
* CME Raises Natural Gas Margins for February Futures by 9.5 Pct
* SELL NAT GAS 28 JAN 2019 @ 245.00 SL 248.00 TGT 240.50-236.00.MCX
To Read Complete Report & Disclaimer Click Here
Views express by all participants area for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer