Buy Crude oil Jan @ 5120 SL 5040 TGT 5220-5300. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL JAN @ 5120 SL 5040 TGT 5220-5300. MCX
Observations
Crudeoil trading range for the day is 5056-5292.
Crude oil dropped as expectations for a supply surplus offset geopolitical risks to production in several OPEC+ nations.
US crude oil inventories, fell by 1.934 million barrels, the largest weekly drop since mid-November.
Gasoline stocks rose sharply by 5.845 million barrels, far exceeding forecasts of 1.9 million Distillate inventories climbed 4.977 mbls, highlighting ongoing oversupply pressures.
Crudeoil
SELL NATURALGAS JAN @ 340 SL 348 TGT 330-320. MCX
Observations
Naturalgas trading range for the day is 317.7-342.3.
Natural gas rose supported by expectations of higher demand and record gas flows to LNG export plants.
Dry gas production will rise to 109.1 bcfd in 2026, exceeding the record 103.6 bcfd in 2023 - EIA
EIA said energy firms pulled 38 billion cubic feet (bcf) of gas out of storage during the week ended December 26.
Average natural gas output climbed to 110.1 bcfd in December, surpassing November's monthly record of 109.6 bcfd.
