Buy Crudeoil Dec 2021 @ 5320 SL 5200 TGT 5450-5520.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5136-5592.
Crude oil prices gained as traders look ahead to some meetings of the Organization of the Petroleum Exporting Countries, scheduled to take place this week.
Russia's Novak says no need for urgent measures on oil market – TASS
OPEC has warned U.S. stocks release to swell surplus
Policy decision likely on Thursday at OPEC+ meeting
BUY CRUDEOIL DEC 2021 @ 5320 SL 5200 TGT 5450-5520.MCX
NATURAL GAS
Natural gas trading range for the day is 337-407.6.
Natural gas slid hurt by forecasts for lower-than-usual heating demand over the next two weeks.
Pressure also seen amid near record output caused last week's storage withdrawal to be smaller-than-usual, as expected.
EIA said utilities pulled 21 bcf of gas from storage during the week ended Nov. 19, which was the first withdrawal of the 2021-2022 winter season.
Data provider Refinitiv said output in the U.S. Lower 48 states averaged 96.2 billion cubic feet per day (bcfd) so far in November
SELL NAT GAS DEC 2021 @ 390.00 SL 400.00 TGT 376.00-370.00.MCX
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