Crude oil

Crude oil trading range for the day is 5275-5539.

Crude oil recovered from lows amid slightly easing worries about the Omicron coronavirus variant's impact on global economic growth.

OPEC+ to continue to restore oil supply to meet growing demand – Novak

A report from Baker Hughes said the number of active U.S. rigs drilling for oil rose by four to 471 this week.

Money managers cut their net long U.S. crude futures and options positions in the week to December 7

SELL CRUDEOIL DEC 2021 @ 5360 SL 5450 TGT 5250-5180.MCX

Natural gas

Natural gas trading range for the day is 282.2-308.6.

Natural gas climbed on forecasts for heating demand to rise in a couple of weeks with a seasonal cooling of the weather.

Price rise occurred even though the weather was expected to remain milder than normal through late December.

The EIA's December projections for 2021 exceeded its November forecasts of 93.34 bcfd for supply and 83.03 bcfd for demand.

Spain's October natural gas imports rise 40.6% from Oct 2020

SELL NAT GAS DEC 2021 @ 374.00 SL 386.00 TGT 360.00-354.00.MCX

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