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Crudeoil

Observations

Crudeoil trading range for the day is 5724-6258.

Crude oil prices drop as US hits record high in production

Concerns about increasing global supplies and slowing demand growth

US crude oil shipments via rail increase in October

Money managers increase net long positions in US crude futures and options

BUY CRUDEOIL JAN @ 6000 SL 5900 TGT 6100-6200. MCX

Naturalgas

Observations

Naturalgas trading range for the day is 201.8-228.6.

Natural gas prices fall due to high production and increased reserves

Surge in natural gas exports, reaching all-time high in December.

Record-high domestic natural gas production in the US leads to higher reserves.

U.S. utilities pulled 87 bcf of natural gas out of storage last week

BUY NATURALGAS JAN @ 208 SL 203 TGT 214-218. MCX