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CRUDEOIL

Crude oil trading range for the day is 5468-5600.

Crude oil dropped as markets eye the next step by producer group OPEC+ and the impact of the Omicron variant.

Russia's Novak expects high gas prices in 2022

Russia's Novak: oil prices unlikely to change much in 2022

China 2021 crude oil output expected to total 199 mln T – energy administration

BUY CRUDEOIL JAN 2022 @ 5500 SL 5420 TGT 5580-5640.MCX

NATURAL GAS

Natural gas trading range for the day is 271.3-290.9.

Natural gas fell weighed down by forecasts for milder weather and lower heating demand than previously expected and smaller-than-usual storage withdrawal.

EIA said utilities pulled 55 billion cubic feet (bcf) of gas from storage during the week ended Dec. 17.

Gazprom’s customers in Europe had requested less gas and more US LNG tankers were crossing the Atlantic towards the continent.

Refinitiv estimated 400 heating degree days (HDDs) over the next two weeks in the Lower 48 U.S. states, down from the 409 HDDs estimated

SELL NAT GAS DEC 2021 @ 280.00 SL 290.00 TGT 268.00-260.00.MCX

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