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CRUDEOIL

* Crude oil trading range for the day is 6304-6626.

* Crude oil falls as China COVID spike dampens demand outlook

* Investors continued to weigh on the impact that China’s reopening could have on global

* U.S. crude oil inventories fell less than expected, by about 1.3 million barrels - API.

* U.S. crude oil in the SPR dropped 3.6 million barrels last week to 378.6 million barrels, itslowest since December 1983

BUY CRUDEOIL JAN 2023 @ 6450 SL 6350 TGT 6550-6650.MCX

NATURAL GAS

* Natural gas trading range for the day is 353.5-412.9.

* Natural gas dropped amid prospects of lower heating demand on forecasts for muchwarmer-than-normal temperatures

* Projected average U.S. gas demand, including exports, would rise from 139.9 bcfd lastweek to 145.7 bcfd this week

* Freeport LNG said it was again delaying the restart of the export facility, this time fromthe end of the year to the second half of January.

* 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 JAN 2023 @ 360.00 SL 340.00 TGT 380.00-400.00.MCX

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