Buy Crudeoil Dec @ 5800 SL 5720 TGT 5880-5950. MCX - Kedia Advisory
CRUDE OIL
Observations
Crudeoil trading range for the day is 5728-6044.
Crude oil dropped as investors awaited an imminent OPEC+ decision on production cuts.
Crude oil inventories in the US fell by 5.073 million barrels, the most in five months.
Gasoline stocks increased by 2.362 million, more than forecasts of a 0.6 million increase.
U.S. crude oil output fell by 157,000 bpd month-over-month to 13.20 million bpd in September, the largest decline since January.
BUY CRUDEOIL DEC @ 5800 SL 5720 TGT 5880-5950. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 248.8-266.8.
Natural gas slid on rising output and forecasts for milder weather over the next two weeks U.S.
March-April widow maker spread trading in unusual contango
U.S. gas output seen rising in 2025 after declining in 2024
Meteorologists projected the weather will turn from mostly colder than normal to mostly warmer than normal from Dec. 8-19.
BUY NATURALGAS DEC @ 257 SL 253 TGT 263-267. MCX
