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Crude oil

Crude oil trading range for the day is 5890-6516.

Crude oil falls further as concerns grow over global economy, China's COVID cases.

The Chinese government also increased export quotas for refined oil products in the first batch for 2023, signalling expectations of poor domestic demand

Top oil exporter Saudi Arabia may further cut the prices for its flagship Arab Light crude grade to Asia in February

U.S. crude – by – rail shipments fell by 22,000 bpd in October – EIA

BUY CRUDEOIL JAN 2023 @ 6100 SL 6020 TGT 6200-6280.MCX

Natural gas

Natural gas trading range for the day is 317.9-369.5.

Natural gas rose on forecasts for higher demand for liquefied natural gas (LNG) exports over the next two weeks than previously expected.

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 @ 330.00 SL 310.00 TGT 360.00-380.00.MCX

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