Buy Natural gas Dec @ 352 SL 345 TGT 360-365. MCX - Kedia Advisory
Crude oil
BUY CRUDEOIL JAN @ 5080 SL 5020 TGT 5160-5220. MCX
Observations
Crudeoil trading range for the day is 5045-5171.
Crude oil gains supported by rising geopolitical tensions.
The US has ordered a full shutdown of maritime traffic involving sanctioned oil tankers operating to and from Venezuela.
US crude oil inventories fell by 1.274 million barrels, following a 1.812 million barrel decline in the previous week
Gasoline inventories rose sharply by 4.808 million barrels, following a 6.397 million barrels jump in the previous week.
Natural gas
BUY NATURALGAS DEC @ 352 SL 345 TGT 360-365. MCX
Observations
Naturalgas trading range for the day is 335.7-391.5.
Natural gas dropped as forecasts for above-average temperatures suggested weaker heating demand.
US energy firms withdrew 167 bcf of natural gas from domestic storages for a total stock of 3,579 bcf
Average gas deliveries to the eight major U.S. LNG export facilities rose to 18.6 Bcf/d so far this month.
At the same time, record-high production and ample storage supplies continue to pressure prices.
