Sell Crude Oil OCT 2022 @ 7280 SL 7400 TGT 7120-7000.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6888-7362.
Crudeoil gains as OPEC+ agreed to cut oil output by 2 million bpd, which is the biggest production cut since the height of Covid-19 lockdowns
OPEC+ oil cuts will go into effect in November
Kuwait oil minister says OPEC+ decision will aim to guarantee supply security
Goldman says reported OPEC+ output cuts reinforce its bullish oil view
SELL CRUDEOIL OCT 2022 @ 7280 SL 7400 TGT 7120-7000.MCX
NATURAL GAS
Natural gas trading range for the day is 529.6-592.6.
Natural gas rose on the back of forecasts for higher gas demand this week than previously expected.
Keeping a lid on prices were record levels of domestic output, a recent cut in gas demand from hurricane-induced power outages.
Average gas output in the U.S. Lower 48 states rose to 100.3 bcfd so far in October from a monthly record of 99.4 bcfd in September.
Gazprom: Nord Stream leaks stop, gas supply could resume on single line
BUY NAT GAS OCT 2022 @ 540.00 SL 520.00 TGT 575.00-595.00.MCX
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