Buy CrudeOil Dec @ 5800 SL 5720 TGT 5880-5950. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 5678-6092.
Crude oil prices fell after reports that Israel and Lebanon had agreed to ceasefire.
The OPEC+ meeting on December 1 is marked to be pivotal as a delay in production normalization is expected.
Russia's Novak says oil market balanced thanks to OPEC+
Saudi crude production fell slightly to 8.975 million bpd
BUY CRUDEOIL DEC @ 5800 SL 5720 TGT 5880-5950. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 281.7-306.3.
Natural gas rose amid forecasts of colder weather and lower production.
Data from the EIA showed that gas storage fell by 3 billion cubic feet
Additionally, supply concerns in Europe ahead of the turn of the year drove LNG feed gas flows to rise to a 10-month high.
Average gas output in the Lower 48 U.S. states eased to 101.0 billion cubic feet per day so far in November
SELL NATURALGAS DEC @ 295 SL 300 TGT 290-285. MCX
