Buy Crudeoil JAN 2022 @ 5760 SL 5680 TGT 5840-5900.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5737-6155.
Crude oil gained supported by tight supply and hopes that rising coronavirus cases will not derail a global demand recovery.
Libyan oil output rises, but exports suspended at Es Sider
U.S. crude inventories expected to fall for seventh week
Kazakh oil, condensate output down 6% in early Jan amid protests
BUY CRUDEOIL JAN 2022 @ 5760 SL 5680 TGT 5840-5900.MCX
NATURAL GAS
Natural gas trading range for the day is 290.9-318.1.
Natural gas jumped on lingering cold-weather production declines and forecasts for higher heating demand next week than previously expected.
U.S. natural gas prices in 2022 at the Henry Hub benchmark in Louisiana will likely ease to their lowest level in two years.
Data provider Refinitiv said output in the U.S. Lower 48 states has averaged 94.6 bcfd so far in January, down from a record 97.6 bcfd in December.
Refinitiv projected average U.S. gas demand, including exports, would hold around 132.7 bcfd this week and next.
BUY NAT GAS JAN 2022 @ 299.00 SL 290.00 TGT 310.00-315.00.MCX
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