Buy Crude oil JAN 2023 @ 6500 SL 6420 TGT 6580-6650.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6390-6672.
Crude oil gains as optimism about increased demand for fuel from China after the countryabruptly ended its Covid restrictions helped as well.
Brent crude logs 10% gain in 2022, WTI records 7% increase
Year marked by Ukraine war supply concerns, Chinese demand drop
Heading into 2023, China's COVID spike hurts demand outlook
BUY CRUDEOIL JAN 2023 @ 6500 SL 6420 TGT 6580-6650.MCX
NATURAL GAS
Natural gas trading range for the day is 358.1-396.7.
Natural gas recovered after the EIA said utilities pulled 213 billion cubic feet (bcf) of gasfrom storage due to severe cold
However, concerns eased about supply disruptions including wells and pipes freezing dueto extreme cold
Estimated 315 heating degree days (HDDs) over the next two weeks in the lower 48 U.S.states, down from 327 HDDs estimated
Gas output was up about 10 bcfd over the past four days in the U.S. lower 48 states
BUY NAT GAS JAN 2023 @ 360.00 SL 340.00 TGT 390.00-410.00.MCX
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