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CRUDEOIL

BUY CRUDEOIL NOV @ 9050 SL BELOW 8950 TGT 9250. MCX

Observations

Crude Oil trading range for the day is 8670-9815.

Crude oil prices fell as Iranian and Qatari officials held a third straight day of talks aimed at securing a deal to end the war.

IRNA: Iran's supreme leader has authorized the government to enter into negotiations.

Goldman Sachs raises Brent crude forecast to $105 for December, sees oil at $88 in 2027 amid Iran war risks

Crude oil speculative net long fell by 2,136 to +99,771 contracts: speculators sold 5,587 longs and covered 3,451 shorts

NATURALGAS

BUY NATURALGAS NOV @ 270 SL BELOW 266 TGT 280. MCX

Observations

Natural Gas trading range for the day is 264.00-288.00.

Natural gas prices dropped as persistently mild weather and a recovery in domestic production weighed on the market.

EIA reported a larger-than-expected increase in inventories, bringing total stocks to roughly 1% above the five-year average.

Natural gas speculative net short deepened by 48,615 to −2,05,464 contracts: speculators sold 3,483 longs and added 45,132 shorts.

Meteorologists forecast that temperatures across much of the country would remain mostly warmer than normal during the first half of November