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CRUDEOIL

Crude oil trading range for the day is 6135-6463.

Crude oil prices rose supported by a softer dollar and a U.S. plan to restock petroleum reserves

But gains were capped by uncertainty over the impact of rising COVID-19 cases in top oil importer China.

Rising interest rates and recession fears weigh

U.S. to begin purchases for strategic reserve

BUY CRUDEOIL JAN 2023 @ 6250 SL 6150 TGT 6350-6450.MCX

NATURAL GAS

Natural gas trading range for the day is 405.6-509.8.

Natural gas dropped on forecasts for less cold weather than previously expected over the next two weeks that will likely reduce heating demand.

Meanwhile, after several delays, the Freeport LNG export plant in Texas was on track to receive about 25 mmcfd of feedgas.

Elsewhere, there were reports of an explosion at a Russian pipeline bringing gas to Europe.

Data showed that natural gas flowing towards US LNG terminals rose to 13 bcf per day, the most since June

BUY NAT GAS DEC 2022 @ 440.00 SL 425.00 TGT 460.00-480.00.MCX

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