Buy Crudeoil Nov 2021 @ 6020 SL 5940 TGT 6120-6160.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 6076-6396.
Crude oil rose with concerns about tight supply and stockpiles fuelling bullish sentiment.
Prices have been boosted by worries about coal and gas shortages in China, India and Europe
U.S. EIA data showed crude stocks at Cushing fell to 31.2 million barrels, their lowest level since October 2018.
U.S. crude and fuel inventories tightened further last week, as supplies of gasoline hit a two-year low
BUY CRUDEOIL NOV 2021 @ 6020 SL 5940 TGT 6120-6160.MCX
Natural gas
Natural gas trading range for the day is 373-412.6.
Natural gas climbed on forecasts for demand to rise as the weather turns seasonally cooler
Support also seen as a slight increase in global gas prices that should keep demand for U.S. liquefied natural gas (LNG) strong.
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.
BUY NAT GAS OCT 2021 @ 412.00 SL 402.00 TGT 426.00-435.00.MCX
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