Buy Natural Gas Nov 2022 @ 470.00 SL 450.00 TGT 495.00-510.00.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 6726-7232.
Crude oil prices fell as Russian oil shipments via the Druzhba pipeline to Hungary restarted
Oil supply to parts of Europe via a section of the Druzhba pipeline was temporarily suspended
China's COVID policy dims demand outlook
IEA forecast demand growth to slow to 1.6 million bpd in 2023 from 2.1 million bpd this year.
SELL CRUDEOIL NOV 2022 @ 7050 SL 7200 TGT 6850-6750.MCX
Natural gas
Natural gas trading range for the day is 451.2-517.6.
Natural gas fell on forecasts for less cold weather and lower heating demand next week than previously expected
The market remained hyper focused on unproven rumors that the Freeport LNG export plant in Texas may not return to service until December.
Freeport LNG has said repeatedly said the plant, which shut after an explosion on June 8, would return in November.
U.S. natgas output, demand to hit record highs in 2022
BUY NAT GAS NOV 2022 @ 470.00 SL 450.00 TGT 495.00-510.00.MCX
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