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Published on 18/01/2019 11:43:39 AM | Source: Kedia Commodity Ltd

Sell Nat Gas 28 Jan 2019 @ 245.00 SL 248.00 TGT 240.50-236.00.MCX - Kedia Commodity

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

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CRUDEOIL

*  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

 

NATURAL GAS

*  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

 

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