IGI Logo

CRUDEOIL

Crude oil trading range for the day is 7048-7518.

Crude oil rose as a weaker U.S. dollar offset widening COVID-19 curbs in China that have stoked fears of slowing fuel demand

Libya NOC chief says oil output is 1.2 million bpd

U.S. oil production nears 12 mln barrels/day, at pre – pandemic high

U.S. crude – by – rail shipments fell by 39,000 bpd in August – EIA

SELL CRUDEOIL NOV 2022 @ 7400 SL 7500 TGT 7250-7150.MCX

NATURAL GAS

Natural gas trading range for the day is 438.2-538.4.

Natural gas dropped on forecasts for the weather to remain mild for the next two weeks

That price decline came despite forecasts for higher demand over the next two weeks and a projected increase in LNG exports.

Freeport LNG expects its 2.1-billion-cubic-feet-per-day (bcfd) export plant to return to at least partial service in early- to mid-November

Data provider Refinitiv said average gas output in the U.S. Lower 48 states rose to a record 99.37 bcfd in October

BUY NAT GAS NOV 2022 @ 460.00 SL 440.00 TGT 490.00-510.00.MCX

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer