Buy Natural Gas Dec 2022 @ 440.00 SL 425.00 TGT 460.00-480.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6280-6704.
Crudeoil dropped as a surge in Covid-19 cases in China raised concerns about the outlook for energy demand.
U.S. crude stocks and distillate inventories fell while gasoline inventories rose
Data showed that US crude inventories fell by 5.89 million barrels
U.S. SPR crude stockpiles fall to lowest since Dec 1983 – EIA
BUY CRUDEOIL JAN 2023 @ 6380 SL 6300 TGT 6480-6550.MCX
NATURAL GAS
Natural gas trading range for the day is 396.5-483.1.
Natural gas slid on forecasts for warmer weather in late December and early January than previously expected.
U.S, Canada natgas output could hit growing pains in 2023
Gas stockpiles are currently about 0.4% below the five-year (2017-2021) average for this time of year.
Average gas output in the U.S. Lower 48 states eased to 99.4 bcfd so far in December, down from a monthly record of 99.5 bcfd in November.
BUY NAT GAS DEC 2022 @ 440.00 SL 425.00 TGT 460.00-480.00.MCX
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