Crude oil trading range for the day is 6483-6877 - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6483-6877
Crude oil rose after Saudi Arabia said OPEC+ was sticking with output cuts.
Saudi denies oil output hike discussion, says OPEC+ may cut if needed
Iraq's SOMO says an OPEC+ oil output increase has not been discussed
Kuwait minister denies there have been talks on OPEC+ oil output increase
SELL CRUDEOIL DEC 2022 @ 6800 SL 6900 TGT 6650-6500.MCX
NATURAL GAS
Natural gas trading range for the day is 505.8-589.8.
Natural gas slid on forecasts for less cold weather and lower heating demand through early December.
Traders monitoring weather patterns, the delay in Freeport's restart and a possible rail strike.
EIA data showed US utilities added 64 bcf of gas to storage
U.S. natgas output, demand to hit record highs in 2022
BUY NAT GAS NOV 2022 @ 540.00 SL 520.00 TGT 570.00-580.00.MCX
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