Buy Crudeoil Nov @ 5940 SL 5850 TGT 6040-6140. MCX - Kedia Advisory
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CRUDE OIL
Observations
Crudeoil trading range for the day is 5849-6069.
Crude oil gained on stronger than expected U.S. fuel demand Producer group OPEC+ could delay a planned output increase.
U.S. gasoline stockpiles fell more than expected to a two-year low, EIA said.
US seeks up to 3 million barrels of oil for emergency reserve
BUY CRUDEOIL NOV @ 5940 SL 5850 TGT 6040-6140. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 221.9-231.1.
Natural gas fell due to an expected bigger-than-usual storage build and forecasts for mild weather to continue through mid-November.
U.S. EIA said utilities added 78 bcf of gas into storage during the week ended Oct. 25.
Average gas output in the Lower 48 U.S. states has eased 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 warmer than normal through at least Nov. 15.
SELL NATURALGAS NOV @ 228 SL 232 TGT 222-218. MCX
