Bu Natural Gas NOV @ 255 SL 250 TGT 262-268. MCX - Kedia Advisory
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CRUDE OIL
Observations
Crudeoil trading range for the day is 6121-6557.
Crudeoil dropped on demand concerns, signs of higher supply and easing Middle East tensions.
Weaker-than-expected Chinese exports in October added to concerns about global demand.
API shows large build in U.S. crude stockpiles
The EIA said that total petroleum consumption in the US is expected to decrease by 300,000 barrels per day this year
BUY CRUDEOIL NOV @ 6250 SL 6150 TGT 6350-6450. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 250-269.4.
Natural gas dropped on record output and forecasts for mild weather to continue through late November
Natural gas production has been on the rise in November, following a record high in October. Additionally, there is currently about 6% more gas in storage than is typical for this time of year.
Gas flows to US LNG export facilities are increasing but remain below the record levels observed in April
BUY NATURALGAS NOV @ 255 SL 250 TGT 262-268. MCX
