IGI Logo

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

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer