Buy Crudeoil NOV 2021 @ 6200 SL 6120 TGT 6280-6350.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5955-6365.
Crude oil dropped reversing gains on fears that Evergrande's debt troubles and as world bank warns of higher inflation
Oil also came under pressure from a drop in coal and natural gas prices after China flagged it might intervene to tame record high coal prices
Kuwait has begun to increase its crude production in accordance with an agreement reached by OPEC+
U.S. crude and fuel inventories tightened further last week, as supplies of gasoline hit a two-year low
BUY CRUDEOIL NOV 2021 @ 6200 SL 6120 TGT 6280-6350.MCX
NATURAL GAS
Natural gas trading range for the day is 369.9-395.1.
Natural gas slipped on forecasts for a bit lower demand next week, a slightly bigger-thanexpected storage build and an easing of gas prices in Europe.
EIA said utilities added 92 billion cubic feet (bcf) of gas into storage during the week ended Oct. 15, the sixth week in a row
Output in the U.S. Lower 48 states has risen to an average of 92.0 billion cubic feet per day (bcfd) so far in October, up from 91.1 bcfd in September.
Japan's LNG stock held by major utilities as of Oct 15 at 2.3 mln T, highest in 5 yrs – METI
BUY NAT GAS OCT 2021 @ 385.00 SL 376.00 TGT 396.00-402.00.MCX
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