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Published on 28/10/2021 12:31:25 PM | Source: Kedia Advisory

Buy Nat Gas Nov 2021 @ 445.00 SL 432.00 TGT 460.00-472.00.MCX - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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CRUDEOIL

Crude oil trading range for the day is 6104-6394.

Crude oil dropped after industry data showed crude oil stockpiles rose more than expected and fuel inventories increased unexpectedly.

U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said.

Crude inventories rose by 4.3 million barrels in the week to October 22 to 430.8 million barrels

U.S. demand for oil surges, depleting tanks in Oklahoma

SELL CRUDEOIL NOV 2021 @ 6380 SL 6480 TGT 6260-6180.MCX

NATURAL GAS

Natural gas trading range for the day is 432.6-486.6.

Natural gas climbed on forecasts for colder weather and higher heating demand over the next two weeks than previously expected.

That price increase came despite a slow rise in U.S. output and as European gas prices declined

The United States has more than enough gas in storage for the winter and ample production to meet domestic and export demand.

Output in the U.S. Lower 48 states has averaged 92.3 billion cubic feet per day (bcfd) so far in October, up from 91.1 bcfd in September.

BUY NAT GAS NOV 2021 @ 445.00 SL 432.00 TGT 460.00-472.00.MCX

 

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