Buy Crude oil Jan @ 5080 SL 5020 TGT 5160-5220. MCX - Kedia Advisory
Crude oil
BUY CRUDEOIL JAN @ 5080 SL 5020 TGT 5160-5220. MCX
Observations
Crudeoil trading range for the day is 4994-5168.
Crude oil prices dropped amid a potential supply glut and prospects of a Russia-Ukraine peace deal.
Venezuela oil export operations continue despite US sanctions
U.S. oil production is expected to hit a larger record this year than previously expected – EIA
IEA trims global oil market surplus forecast for 2026.
Natural gas
BUY NATURALGAS DEC @ 352 SL 345 TGT 360-365. MCX
Observations
Naturalgas trading range for the day is 340.8-367.
Natural gas eased on forecasts for milder weather and lower demand and near-record output.
U.S. natural gas output and demand will both rise to record highs in 2025 – EIA
Average gas output in the Lower 48 states held at 109.6 bcfd so far in December, the same as November's monthly record high.
Meteorologists forecast weather across the country would remain mostly warmer than normal through January 3.
