Buy Crudeoil Dec 2021 @ 5840 SL 5750 TGT 5940-5990.MCX - Kedia Advisory
CRUDEOIL
Crude oil trading range for the day is 5777-5955.
Crude oil dropped as U.S. crude stocks rose as refineries hiked output, while gasoline stocks decreased and distillate inventories fell
China says it will release oil reserves according to its needs
API shows crude, gasoline stocks rise; distillates down
IEA says U.S. – led oil stockpile release was not an IEA response
BUY CRUDEOIL DEC 2021 @ 5840 SL 5750 TGT 5940-5990.MCX
NATURAL GAS
Natural gas trading range for the day is 362.3-401.1.
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.
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 DEC 2021 @ 370.00 SL 358.00 TGT 384.00-392.00.MCX
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