Sell Crudeoil Dec 2021 @ 5450 SL 5560 TGT 5320-5240.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 5199-5539.
Crude oil dropped after the IEA said that the Omicron coronavirus variant is set to dent the global demand recovery.
OPEC upbeat on 2022 oil demand, says Omicron impact to be mild
Omicron impact aside, oil supply set to top demand – IEA
Permian oil output forecast to hit record high in January -EIA
SELL CRUDEOIL DEC 2021 @ 5450 SL 5560 TGT 5320-5240.MCX
Natural gas
Natural gas trading range for the day is 274.6-297.2.
Natural gas eased on forecasts for milder weather and less heating demand over the next two weeks than previously expected.
That price decline came despite a 3% rise in European gas prices to their highest since hitting a record in early October
U.S. natural gas storage is expected to end the November-March withdrawal season at 1.635 tcf on March 31
The number of rigs drilling for natural gas in the United States rose by 3 to 105
SELL NAT GAS DEC 2021 @ 300.00 SL 310.00 TGT 288.00-280.00.MCX
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