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Crudeoil

Observation

Crudeoil trading range for the day is 5881-6061.

Crude oil gains buoyed by a slightly positive market outlook for the short term.

EIA's STEO shifted their 2025 liquids to a draw, despite continuing to bring back some OPEC+ barrels next year.

China's fiscal stimulus plan supports oil prices

There is optimism over solid U.S. fuel demand after separate set of data showed new home sales rebounded

BUY CRUDEOIL JAN @ 5950 SL 5850 TGT 6050-6140. MCX

Naturalgas

Observation

Naturalgas trading range for the day is 282.1-306.5.

Natural gas rose as bets of stronger global LNG demand magnified the outlook of higher domestic consumption.

Fresh forecasts of a cold front in the US halfway through January drove the industry to raise demand forecasts by 18 billion cubic feet.

Average gas output rose to 103.1 bcfd so far in December, up from 101.5 bcfd in November.

Meteorologists projected weather in the Lower 48 would remain mostly warmer than normal through at least Jan. 4.

SELL NATURALGAS JAN @ 305 SL 312 TGT 295-285. MCX