Buy Crude oil Dec @ 5050 SL 4970 TGT 5140-5220. MCX - Kedia Advisory
Crude oil
BUY CRUDEOIL DEC @ 5050 SL 4970 TGT 5140-5220. MCX
Observations
Crudeoil trading range for the day is 4977-5187.
Crude oil gained after U.S. President Donald Trump ordered a blockade of sanctioned oil tankers in and out of Venezuela.
Rising production from OPEC+ and other drillers has pressured futures, with Brent nearing the $50s.
IEA forecasts a significant surplus in 2026, reflecting growing concerns over worldwide oil oversupply.
Crude stocks fell by 9.3 million barrels last week, citing American Petroleum Institute figures.
Natural gas
BUY NATURALGAS DEC @ 358 SL 353 TGT 364-368. MCX
Observations
Naturalgas trading range for the day is 349.8-372.8.
Natural gas climbed on near-record gas flows to LNG export plants and forecasts for more demand.
Average gas output in the Lower 48 states eased to 109.5 bcfd so far in December
Average gas would fall from 145.1 bcfd this week to 131.1 bcfd next week.
Record output has allowed energy companies to stockpile more gas than usual so far this year
