Buy Crude oil Jan @ 5160 SL 5080 TGT 5240-5320. MCX - Kedia Advisory
Crude oil
BUY CRUDEOIL JAN @ 5160 SL 5080 TGT 5240-5320. MCX
Observations
Crudeoil trading range for the day is 5062-5326.
Crude oil rises after US intercepts tanker off Venezuela, Russia-Ukraine tensions persist.
US intercepts Venezuelan oil tanker, raising supply disruption fears Trump administration's hardline approach sparked rebound in crude prices
U.S. oil production is expected to hit a larger record this year than previously expected
Natural gas
BUY NATURALGAS DEC @ 345 SL 340 TGT 352-358. MCX
Observations
Naturalgas trading range for the day is 324.2-384.6.
Natural gas dropped amid forecasts for milder weather and lower demand over the next two weeks and near-record output.
However, downside seen limited on near-record gas flows to liquefied natural gas (LNG) export plants.
Average gas output in the Lower 48 states held at 109.6 billion cubic feet per day (bcfd) so far in December.
Meteorologists forecast weather across the country would remain mostly warmer than normal through January 3.
