Buy Crude Oil Jan 2023 @ 6100 SL 6020 TGT 6200-6280.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 5933-6319.
Crude oil rebounded with the shutdown of a U.S. fuel pipeline providing support, though economic concerns capped gains.
Colonial shuts down Line 3 for unplanned maintenance
OPEC oil output rises despite production target cuts
API figures shows U.S. crude, gasoline stocks rise
BUY CRUDEOIL JAN 2023 @ 6100 SL 6020 TGT 6200-6280.MCX
Natural gas
Natural gas trading range for the day is 281.9-361.1.
Natural gas dropped on forecasts for warmer-than-normal weather to continue into late January.
The biggest uncertainty for the market remains when Freeport LNG will restart its LNG export plant in Texas.
Gazprom's gas supply to Europe via Ukraine down by 10.4%
Average gas output in the U.S. Lower 48 states rose to 98.3 bcfd so far in January, up from 96.7 bcfd in December.
BUY NAT GAS JAN 2023 @ 305.00 SL 290.00 TGT 325.00-345.00.MCX
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