Buy Crude oil Jan @ 5320 SL 5220 TGT 5420-5520. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL JAN @ 5320 SL 5220 TGT 5420-5520. MCX
Observations
Crudeoil trading range for the day is 5120-5516.
Crude oil rose on concerns about potential disruption to Iran's output and uncertainty about supply from Venezuela.
Civil unrest in Iran and concerns about the spread of the Russia-Ukraine war have increased supply worries.
OPEC’s crude production held steady in December as a slump in Venezuela’s output to the lowest in two years.
Indonesia produced 605,300 barrels of oil per day in 2025, slightly above the 605,000-bpd targeted in the state budget
Naturalgas
BUY NATURALGAS JAN @ 292 SL 286 TGT 298-304. MCX
Observations
Naturalgas trading range for the day is 276.1-325.1.
Natural gas fell pressured by a modest increase in daily output and forecasts showing mostly mild weather.
EIA storage report showed energy firms withdrew 114 bcf in the week ended January 2, a larger-than-usual draw.
Exports continue to provide underlying support, with LNG feedgas flows averaging 18.5 bcfd so far in January.
Average gas output fell to 109.1 bcfd so far in January, down from a monthly record high of 109.7 bcfd in December.
