Sell CrudeOil Nov 2022 @ 7400 SL 7500 TGT 7280-7180.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7190-7510
Crude oil dropped amid heightened fears of a global recession that would crimp fuel demand. Friday, November 4, 2022
Crude oil and gasoline stocks fell, while refiners ramped up activity ahead of the heating season with inventories already tight
OPEC oil output slips in October after cut pledge
Venezuela's October oil exports tumble on weaker production
SELL CRUDEOIL NOV 2022 @ 7400 SL 7500 TGT 7280-7180.MCX
NATURAL GAS
Natural gas trading range for the day is 482.7-522.5.
Natural gas dropped after the EIA report showed a bigger-than-expected storage build.
US utilities added 107 bcf of gas to storage during the week ended October 28th, more than market expectations of a 97 bcf build. Friday, November 4, 2022 URL : www.kediaadvisory.com Page 3
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
Average gas output in the U.S. Lower 48 states fell to 97.8 bcfd so far in November, down from a record 99.4 bcfd in October.
BUY NAT GAS NOV 2022 @ 490.00 SL 470.00 TGT 515.00-530.00.MCX
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