Buy Crudeoil DEC @ 6400 SL 6300 TGT 6500-6600. MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
CRUDE OIL
Observations
Crudeoil trading range for the day is 6383-6543.
Crude oil dropped as investors remained cautious about the prospect of weaker demand and a global economic slowdown.
Oil market on edge over Middle East crisis, IEA's Birol says
Markets expect Saudi Arabia and Russia to roll over additional voluntary cuts into early next year.
US shale oil output expected to fall in December – EIA
BUY CRUDEOIL DEC @ 6400 SL 6300 TGT 6500-6600. MCX
NATURALGAS
Observations
Naturalgas trading range for the day is 233.7-246.7.
Natural gas dropped due to ample storage levels, record production and lower demand.
US gas stockpiles were already about 6% above normal
EIA attributes abundant inventories to high natural gas production and warmer-than-average winter weather
Average gas output rose to 107.5 billion cubic feet per day (bcfd), up from a record 104.2 bcfd in October.
BUY NATURALGAS NOV @ 235 SL 230 TGT 240-245. MCX
Tag News
Evening Roundup : A Daily Report on Bullion Energy & Base Metals for 17 May 2024 - Geojit Fi...
