Sell Crudeoil Nov 2022 @ 7450 SL 7550 TGT 7320-7220.MCX -
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Crude oil
Crude oil trading range for the day is 7243-7545.
Crude oil dropped as China reaffirmed its commitment to the zero-Covid policy that has dampened demand
Markets also continued to grapple with tightening financial conditions and mounting risks of a global recession.
China's Oct crude oil imports rebound amid new refinery rollouts
Speculators raise U.S. crude oil net longs – CFTC
SELL CRUDEOIL NOV 2022 @ 7450 SL 7550 TGT 7320-7220.MCX
Natural gas
Natural gas trading range for the day is 454.7-593.5.
Natural gas dropped on forecasts for the weather to remain mild for the next two weeks
That price decline came despite forecasts for higher demand over the next two weeks and a projected increase in LNG exports.
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 @ 500.00 SL 480.00 TGT 525.00-550.00.MCX
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