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Buy Crudeoil Dec @ 5980 SL 5900 TGT 6080-6160. MCX - Kedia Advisory
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Crudeoil
Observation
Crudeoil trading range for the day is 5949-6085.
Crude oil dropped pressured by weakness in consumer spending in China
The Chinese outlook contributed the decision by oil produce
The Chinese outlook contributed the decision by oil producer group OPEC+ to postpone plans for higher output until April.
China's consumer spending data falls short of expectations
US Federal Reserve expected to cut interest rates this week
BUY CRUDEOIL DEC @ 5980 SL 5900 TGT 6080-6160. MCX
Naturalgas
Observation
Naturalgas trading range for the day is 263.3-282.1.
Natural gas fell on increased supplies as producers keep pulling more gas out of the ground
Gas flows to Venture Global Plaquemines in Louisiana high enough to produce first LNG
Feedgas to LNG export plants on track to reach 11-month high
Average gas output in the Lower 48 U.S. states rose to 102.9 bcfd so far in December, up from 101.5 bcfd in November
BUY NATURALGAS DEC @ 270 SL 265 TGT 276-282. MCX
