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Crude Oil

Observations

Crudeoil trading range for the day is 5812-6280.

Crude oil fell on profit booking as investors monitored

EIA report and tensions in Middle East. Crude oil inventories in the US fell by 5.503 million

barrels - EIA API reported a larger-than-expected 7.4 million barrel decrease in US

crude stocks US seeks 3mln barrels of crude to fill strategic reserve

BUY CRUDEOIL JAN @ 6000 SL 5920 TGT 6120-6220. MCX

Natural Gas

Observations

Naturalgas trading range for the day is 219.4-246.2.

Natural gas increased due to a drop in daily output and higher heating demand.

US utilities pulled 14 billion cubic feet of natural gas from storages

Average gas output in the lower 48 U.S. states has decreased in January compared to December.

With colder weather expected, U.S. gas demand, including exports, is forecasted to rise.

SELL NATURALGAS JAN @ 236 SL 240 TGT 230-225. MCX