Buy Crudeoil JAN 2022 @ 5420 SL 5340 TGT 5520-5560.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4884-5454..
Crude oil dropped as surging Omicron COVID-19 cases triggered tighter curbs in Europe and a $1.75 trillion U.S. domestic investment bill suffered a potentially fatal blow.
OPEC+ produces below target in November as compliance rises
China's oil imports in Nov from Saudi Arabia fall from a year earlier
Russia plans lower oil exports for Q1 2022 despite OPEC+ plan to raise output.
BUY CRUDEOIL JAN 2022 @ 5420 SL 5340 TGT 5520-5560.MCX
NATURAL GAS
Natural gas trading range for the day is 270.9-307.1.
Natural gas rose on forecasts for colder weather that could result in higher heating demand over the next two weeks
The U.S. EIA said utilities pulled 88 bcf of gas from storage during the week ended Dec. 10.
US natural gas production to hit new monthly record high in 2022, EIA reports
Data provider Refinitiv said output in the U.S. Lower 48 states has averaged 96.8 billion cubic feet per day (bcfd) so far in December
BUY NAT GAS DEC 2021 @ 294.00 SL 282.00 TGT 306.00-312.00.MCX
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