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CRUDEOIL

Crude oil trading range for the day is 5529-5773.

Crude oil prices dropped as U.S. oil output rose 6% in Oct from previous month

US crude output rises to highest since May 2020 – EIA

U.S. crude, fuel stocks fell last week – EIA

Investors also turned cautious ahead of the Organization of the Petroleum Exporting Countries (OPEC) and its allies meet on Jan.4.

BUY CRUDEOIL JAN 2022 @ 5640 SL 5550 TGT 5750-5820.MCX

NATURAL GAS

Natural gas trading range for the day is 260.6-286.4.

Natural gas gained amid a bigger-than-expected storage withdrawal last week and forecasts for colder weather and more heating demand over the next two weeks.

The U.S. EIA said utilities pulled 136 billion cubic feet (bcf) of gas from storage during the week ended Dec. 24

The total U.S. consumption of natural gas fell for the second week in a row, by 1.4% compared with the previous report week.

Data from Refinitiv showed output in the U.S. lower 48 has averaged 97.4 billion cubic feet per day (bcfd) so far in December

SELL NAT GAS JAN 2022 @ 278.00 SL 288.00 TGT 266.00-262.00.MCX

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