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CRUDEOIL

Crude oil trading range for the day is 6235-6657.

Crude oil prices rose after data suggested a larger than expected draw in U.S. crude stockpiles

But gains were capped by growing concerns over demand in China and a snow storm that is expected to hit U.S. travel.

U.S. crude inventories fell by about 3.1 million barrels in the week to Dec. 16 - API

Worries about surging COVID-19 cases in China as the country begins dismantling its zeroCOVID policy kept oil prices from moving higher.

BUY CRUDEOIL JAN 2023 @ 6450 SL 6350 TGT 6550-6650.MCX

NATURAL GAS

Natural gas trading range for the day is 431.5-473.9.

Natural gas rose as cold weather continued to boost heating demand for the next week and cut output by freezing oil and gas wells.

U.S, Canada natgas output could hit growing pains in 2023

Gas stockpiles are currently about 0.4% below the five-year (2017-2021) average for this time of year.

Average gas output in the U.S. Lower 48 states eased to 99.4 bcfd so far in December, down from a monthly record of 99.5 bcfd in November.

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

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