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Buy Nat Gas Nov 2022 @ 470.00 SL 450.00 TGT 500.00-520.00.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 7124-7516.
Crude oil rose as optimism over record U.S. crude exports and signs that recession fearsare abating outweighed concern over slack demand in China
U.S. crude exports surge to record, inventories rise
US crude stocks rise to highest since July 2021 – EIA
The US exported a record amount of crude and fuel last week, with total petroleumshipments reaching 11.4 million barrels a day
SELL CRUDEOIL NOV 2022 @ 7400 SL 7520 TGT 7260-7150.MCX
Natural gas
Natural gas trading range for the day is 452.1-528.3.
Natural gas dropped as near-record output levels outweighed rising demand.
However, downside seen limited on expectations that LNG exports would increase due tothe end of maintenance outages in plants
Average US gas demand, including exports, is expected to rise to 97.1 bcfd next week,from 93.9 bcfd this week
Meanwhile, average gas output in the US Lower 48 states rose to 99.5 bcfd so far inOctober from a record 99.4 bcfd in September.
BUY NAT GAS NOV 2022 @ 470.00 SL 450.00 TGT 500.00-520.00.MCX
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