Buy Crude Oil JAN @ 5020 SL 4940 TGT 5100-5180. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL JAN @ 5020 SL 4940 TGT 5100-5180. MCX
Observations
Crudeoil trading range for the day is 4927-5257.
Crude oil dropped as rising supply expectations tied to Venezuela and Russia weighed on prices.
Trump says Venezuela to export $2 billion worth of oil to US Morgan Stanley analysts estimated the oil market could reach a surplus of as many as 3 mbpd in the first half of 2026.
API data showed US crude inventories fell by 2.8 million barrels last week, versus expectations for a 1.2 million barrel build.
NATURALGAS
BUY NATURALGAS JAN @ 316 SL 310 TGT 323-330. MCX
Observations
Naturalgas trading range for the day is 302.9-332.9.
Natural gas jumped on a decline in output and forecasts for cooler weather.
Average gas output in the Lower 48 states has fallen to 109.0 bcfd so far in January.
On a daily basis, output was on track to drop to a three-week low of around 108.1 bcfd on Wednesday due in part to declines in Arkansas and Texas.
LSEG projected average gas demand in the Lower 48 states, would rise from 131.2 bcfd this week to 132.4 bcfd next week.
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