Buy Crude Oil December 2022 @ 6500 SL 6400 TGT 6650-6750.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6404-6780.
Crudeoil dropped ahead of OPEC+ meet and ended the week with gains on signs of easing COVID-19 restrictions in China.
Russian oil output could fall by 500,000 to 1 mbpd early in 2023 due to the EU ban on seaborne imports from Monday.
Russia's Novak says EU price cap will not affect December oil production
OPEC oil output drops in November after cut pledged
BUY CRUDEOIL DEC 2022 @ 6500 SL 6400 TGT 6650-6750.MCX
NATURAL GAS
Natural gas trading range for the day is 502.2-562.8.
Natural gas fell on a slightly smaller-than-expected storage draw and forecasts for less cold weather and lower gas demand
EIA said utilities pulled 81 billion cubic feet (bcf) of gas from storage during the week ended Nov. 25.
Freeport LNG has said it plans to start producing LNG again in mid-December and reach full capacity of about 2.1 bcfd in March.
Data provider Refinitiv said average gas output in the U.S. Lower 48 states rose to a record 99.5 bcfd in November, up from 99.2 bcfd in October.
SELL NAT GAS DEC 2022 @ 530.00 SL 550.00 TGT 505.00-495.00.MCX
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