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CRUDEOIL

Crude oil trading range for the day is 5568-5842.

Crude oil gained as investors welcome signs the omicron variant is less severe than initially expected while data showed US crude inventories fell.

Russia says OPEC+ prioritises mid – term strategy over U.S. calls for more oil

U.S. crude, gasoline and distillate stocks fell last week – API

Markets look ahead to the upcoming OPEC+ meeting, scheduled to take place on January 4.

SELL CRUDEOIL JAN 2022 @ 5750 SL 5860 TGT 5640-5580.MCX

NATURAL GAS

Natural gas trading range for the day is 283-313.4.

Natural gas gained on forecasts for milder weather and less heating demand over the next two weeks than previously expected.

Refinitiv projected average U.S. gas demand, including exports, would jump from 110.0 bcfd this week to 126.7 bcfd next week

EIA said utilities pulled 55 billion cubic feet (bcf) of gas from storage during the week ended Dec. 17.

Gazprom’s customers in Europe had requested less gas and more US LNG tankers were crossing the Atlantic towards the continent.

BUY NAT GAS JAN 2022 @ 288.00 SL 276.00 TGT 302.00-308.00.MCX

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