BUY CRUDEOIL DEC @ 5850 SL 5750 TGT 5980-6050. MCX - Kedia Advisory
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CRUDE OIL
Observations
Crudeoil trading range for the day is 5776-6064
Crude oil gains after Saudi Arabia and Russia lobbied OPEC+ members to join output cuts.
Chinese crude oil imports fell 9% in November
US crude output holds above 13 million bpd
US job report dampens rate cut hopes
BUY CRUDEOIL DEC @ 5850 SL 5750 TGT 5980-6050. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 210.2-222.
Natural gas gains on record liquefied natural gas (LNG) exports
Global gas flow to Europe at normal to elevated levels.
LNG surplus projected until at least 2025.
US utilities withdraw 117 bcf, exceeding market expectations
BUY NATURALGAS DEC @ 213 SL 208 TGT 218-222. MCX
