Buy Crudeoil Jan@ 5220 SL 5140 TGT 5320-5380. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL JAN @ 5220 SL 5140 TGT 5320-5380. MCX
Observations
Crudeoil trading range for the day is 5192-5292.
Crude oil gains as potential sales of Venezuelan crude seized by US were countered by heightened supply disruption fears.
U.S. might keep or sell seized Venezuelan oil, says President Trump
Barclays expects oil surplus to shrink next year if Venezuelan exports fall
U.S. oil production is expected to hit a larger record this year than previously expected
Naturalgas
BUY NATURALGAS DEC @ 370 SL 362 TGT 382-390. MCX
Observations
Naturalgas trading range for the day is 343.9-401.3.
Natural gas rose boosted by record gas flows to liquefied natural gas export plants and forecasts for more demand.
Average gas flows to the eight large U.S. liquefied natural gas export plants have risen to 18.5 bcfd so far this month.
LSEG projected average gas demand in the lower 48 states, would rise from 127.9 bcfd this week to 136.0 bcfd over the next two weeks.
Meteorologists forecast weather across the country will remain mostly warmer than normal through January 7.
