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 6056-6396.
Crude oil jumps on demand optimism as China borders reopen
China reopens borders in final farewell to zero-COVID
Hopes of slower U.S. interest rate hikes boost risk sentiment
OPEC crude production rose in December, led by a recovery in Nigerian supply
BUY CRUDEOIL JAN 2023 @ 6100 SL 6020 TGT 6200-6280.MCX
Natural gas
Natural gas trading range for the day is 306.9-359.1.
Natural gas rose with a jump in oil futures and forecasts for slightly more heating demandnext week than previously expected.
The market's biggest uncertainty remains when Freeport LNG will restart its liquefiednatural gas (LNG) export plant in Texas
Gas speculators last week boosted their net short futures and options positions for a thirdweek in a row to their highest since October 2022
Average gas output in the U.S. Lower 48 states rose to 98.3 bcfd so far in January, upfrom 96.7 bcfd in December.
BUY NAT GAS JAN 2023 @ 325.00 SL 310.00 TGT 350.00-365.00.MCX
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