Sell Crudeoil Nov 2022 @ 7300 SL 7400 TGT 7150-7050.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 6995-7383
Crude oil rose as U.S. crude exports hit an all-time high and as the nation's refiners operated at higher-than-usual levels for this time of year.
The EIA report showed that US crude inventories surged by about 2.588 million barrels last week
Data from the API showed that U.S. crude inventories grew by 4.5 million barrels last wee
China's Sept crude oil imports down 2% on year
Sell Crudeoil Nov 2022 @ 7300 SL 7400 TGT 7150-7050.MCX
Natural gas
Natural gas trading range for the day is 469.2-524.8.
Natural gas dropped due to forecasts of lower weather-driven demand, record domestic production levels.
However, downside seen limited on expectations that LNG exports would increase due to the end of maintenance outages in plants
Average US gas demand, including exports, is expected to rise to 97.1 bcfd next week, from 93.9 bcfd this week
Meanwhile, average gas output in the US Lower 48 states rose to 99.5 bcfd so far in October from a record 99.4 bcfd in September.
Natural gas trading range for the day is 469.2-524.8.
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