Buy Crudeoil Dec 2021 @ 5650 SL 5560 TGT 5745-5800.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5535-6071.
Crude oil rose after a move by US and other consumer nations to release tens of millions of barrels of oil from reserves to try to cool the market.
Kazakhstan produces 1.6 mln bpd in Oct, above OPEC+ quota
Kremlin committed to OPEC+ pledges, no plans to discuss oil – stock release with group
India announced the release of 5 mln brls of oil from its strategic reserves, while South Korea and Britain also confirmed they would participate
BUY CRUDEOIL DEC 2021 @ 5650 SL 5560 TGT 5745-5800.MCX
NATURAL GAS
Natural gas trading range for the day is 345.5-393.7.
Natural gas jumped as soaring global gas prices keep demand for U.S. liquefied natural gas (LNG) exports near record highs.
Gas prices in Europe soared about 6% as colder weather increased demand and the market remained nervous about winter supplies from Russia.
Wednesday, November 24, 2021 URL : www.kediaadvisory.com Page 3 EIA said utilities added 26 billion cubic feet (bcf) of gas into storage during the week ended Nov. 12. U.S.
Speculators cut their net long positions for a sixth week to their lowest since June 2020
BUY NAT GAS NOV 2021 @ 360.00 SL 345.00 TGT 375.00-384.00.MCX
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