Buy Crudeoil Nov 2021 @ 6160 SL 6100 TGT 6240-6300.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 6023-6277.
Crude oil dropped after Iran said talks with world powers on its nuclear programme would resume by the end of November
Pressure also seen as U.S. crude inventories rose by much more than expected.
Outbreaks of coronavirus infections in China and record deaths and the threat of lockdowns in Russia, along with rising cases in western Europe, also weighed.
Crude stocks rose by 4.3 million barrels last week, the U.S. Energy Department said
BUY CRUDEOIL NOV 2021 @ 6160 SL 6100 TGT 6240-6300.MCX
Natural gas
Natural gas trading range for the day is 409-478.6.
Natural gas prices dropped as domestic stockpiles built up a notch faster than expected
Russian President Vladimir Putin ordered Gazprom to start refilling its European gasstorage facilities from November 8th.
The EIA weekly report showed an 87bcf addition of gas into storage last week
Output in the US Lower 48 states has averaged 92.3 billion cubic feet per day so far in October, up from 91.1 bcfd in September
BUY NAT GAS NOV 2021 @ 458.00 SL 442.00 TGT 476.00-484.00.MCX
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