Sell Crudeoil Nov 2022 @ 7100 SL 7200 TGT 6950-6850.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 6756-7374.
Crude oil falls on China COVID surge and firmer dollar
China's demand for oil from top exporter Saudi Arabia also remained weak
OPEC cuts oil demand growth forecast again as economic challenges mount
Oil demand in 2022 will rise by 2.55 mbpd, or 2.6%, the OPEC said in a monthly report.
SELL CRUDEOIL NOV 2022 @ 7100 SL 7200 TGT 6950-6850.MCX
Natural gas
Natural gas trading range for the day is 465.6-533.8.
Natural gas jumped on forecasts for colder weather and higher heating demand through the end of November than previously expected.
The market remained hyper focused on unproven rumors that the Freeport LNG export plant in Texas may not return to service until December.
Freeport LNG has said repeatedly said the plant, which shut after an explosion on June 8, would return in November.
U.S. natgas output, demand to hit record highs in 2022
BUY NAT GAS NOV 2022 @ 490.00 SL 470.00 TGT 520.00-540.00.MCX
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