Sell Crudeoil JAN 2022 @ 5780 SL 5880 TGT 5660-5600.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5640-5938.
Crude oil gained as U.S. crude stocks fell while gasoline and distillate inventories rose, the Energy Information Administration said.
Crude inventories fell by 2.1 million barrels in the week to Dec. 31 to 417.9 million barrels, compared with expectations for a 3.3 million-barrel drop.
Kuwaiti Oil Minister Mohammad Al-Fares voiced optimism for continued recovery of the global economy despite concerns about the Omicron coronavirus variant.
OPEC+ decision reflects easing concern of oil surplus, Omicron risk
SELL CRUDEOIL JAN 2022 @ 5780 SL 5880 TGT 5660-5600.MCX
NATURAL GAS
Natural gas trading range for the day is 274.4-292.8.
Natural gas edged up as freezing wells continued to reduce output in some producing regions
European gas prices soared as low supplies from Russia reignited concerns about an energy crunch as the region heads for colder weather.
Speculators last week boosted their net long positions by the most of any week since September - CFTC
With the weather expected to remain colder than normal through mid-January, projected average U.S. gas demand, would jump from 128.4 bcfd this week
SELL NAT GAS JAN 2022 @ 285.00 SL 295.00 TGT 275.00-270.00.MCX
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