Sell Crudeoil Nov 2021 @ 6000 SL 6100 TGT 5890-5810.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5869-6039.
Crude oil prices fell on expectations of increasing supply, while higher energy costs and rising COVID-19 cases are also seen weighing on demand.
Kuwait to increase oil production while reducing emissions – minister
UAE energy minister expects oil supply surplus as early as Q1 2022
UAE says oil market stability helped by OPEC+ production commitment
SELL CRUDEOIL NOV 2021 @ 6000 SL 6100 TGT 5890-5810.MCX
NATURAL GAS
Natural gas trading range for the day is 344.3-382.3.
Natural gas edged up on forecasts for colder weather and higher heating demand over the next two weeks than previously expected.
Prices also gained some support from a 7% rise in European gas prices on worries about supplies from Russia.
Data provider Refinitiv said output in the U.S. Lower 48 states averaged 96.1 billion cubic feet per day (bcfd) so far in November
EIA said utilities added 7 billion cubic feet (bcf) of gas into storage during the week ended Nov. 5.
SELL NAT GAS NOV 2021 @ 368.00 SL 380.00 TGT 355.00-348.00.MCX
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