Buy Crudeoil Feb @ 6080 SL 680 TGT 5980-5900. MCX - Kedia Advisory
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CRUDE OIL:
Observations:
Crudeoil trading range for the day is 5849-6291.
Crude oil fell on China’s growth fears and efforts of ceasefire in Middle East
OPEC+ currently has output cuts of 2.2 million barrels per day in place for the first quarter
U.S. shipments of crude oil via rail in November decreased by 25,000 barrels per day
U.S. crude stocks rose by 1.2 million barrels to 420.7 million barrels – EIA
BUY CRUDEOIL FEB @ 6080 SL 680 TGT 5980-5900. MCX
NATURAL GAS:
Observations:
Naturalgas trading range for the day is 167.1-178.7.
Natural gas gains amid forecasts for seasonally cold weather later this month.
US utilities withdrew 197 billion cubic feet of natural gas from storage
Current stockpiles of natural gas are 54bcf higher than last year and 130bcf above the five-year average.
US natural gas storage is expected to end the winter withdrawal season at the highest level since 2020
BUY NATURALGAS FEB @ 170 SL 165 TGT 175-180. MCX
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