Buy Crudeoil Dec 2021 @ 5380 SL 5300 TGT 5490-5540.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5291-5585.
Crude oil prices fell amid uncertainty over demand recovery after the British government became the latest European nation to tighten Covid-19 restrictions.
US SPR crude falls to lowest since May 2003 – EIA
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.4 million barrels in the last week, EIA said.
OPEC+ output hike gamble pays off as oil prices recover
BUY CRUDEOIL DEC 2021 @ 5380 SL 5300 TGT 5490-5540.MCX
NATURAL GAS
Natural gas trading range for the day is 275.4-306.
Natural gas recovered losses after a bigger than expected storage withdrawal and hiked forecasts for U.S. demand over the next two weeks
The EIA's December projections for 2021 exceeded its November forecasts of 93.34 bcfd for supply and 83.03 bcfd for demand.
The agency forecast U.S. liquefied natural gas exports would reach 9.80 bcfd in 2021 and 11.49 bcfd in 2022
Spain's October natural gas imports rise 40.6% from Oct 2020
BUY NAT GAS DEC 2021 @ 288.00 SL 278.00 TGT 298.00-304.00.MCX
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