Sell Crudeoil Dec 2021 @ 5020 SL 5120 TGT 4890-4800.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4554-5270.
Crude oil dropped after OPEC+ agrees to add another 400,000 bpd in January
Washington repeatedly asked OPEC to pump more as U.S. gasoline prices soared and President Joe Biden's approval ratings slid
Russia's Nov output of oil, gas condensate rises to 10.89 mln bpd
Kazakhstan November oil output exceeds OPEC+ quota
SELL CRUDEOIL DEC 2021 @ 5020 SL 5120 TGT 4890-4800.MCX
NATURAL GAS
Natural gas trading range for the day is 294.5-334.1.
Natural gas dropped amid forecasts for milder weather and less heating demand over the next two weeks than previously expected
However, downside seen limited with a small decline in output and a slightly bigger-thanexpected storage withdrawal during last week's colder than normal weather.
The U.S. Energy Information Administration (EIA) said utilities pulled 59 billion cubic feet (bcf) of gas from storage during the week ended Nov. 26.
Data provider Refinitiv said output in the U.S. Lower 48 states averaged 95.8 billion cubic feet per day (bcfd) so far in December
SELL NAT GAS DEC 2021 @ 330.00 SL 345.00 TGT 315.00-308.00.MCX
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