31-10-2024 10:09 AM | Source: Kedia Advisory
Buy Crudeoil Nov @ 5700 SL 5620 TGT 5780-5850. 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 5624-5896.

Crude oil prices rose after reports that OPEC+ could delay a planned oil production increase in December

Crude oil inventories in the US fell by 0.515 million barrels.

Gasoline stocks dropped by 2.7 million, against forecasts of a 0.6 million increase.

Crude stocks at the Cushing, Oklahoma, went up by 0.681 million barrels, rebounding from a 0.346 million barrels drop in the previous period.

BUY CRUDEOIL NOV @ 5700 SL 5620 TGT 5780-5850. MCX

 

NATURAL GAS

Observations

Naturalgas trading range for the day is 229-249.

Natural gas fell on forecasts for mild weather through at least mid-November

Pressure also seen amid an increase in output over most of the past several days.

Average gas output in the Lower 48 U.S. states slipped to 101.7 bcfd so far in October, down from 101.8 bcfd in September

Meteorologists projected the weather in the Lower 48 states would remain mostly warmer than normal through at least Nov. 13.

BUY NATURALGAS NOV @ 238 SL 234 TGT 243-248. MCX

To Read Complete Report & Disclaimer     Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer