Buy Natural Gas DEC @ 352 SL 346 TGT 360-365. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL DEC @ 5050 SL 4970 TGT 5140-5220. MCX
Observations
Crudeoil trading range for the day is 4929-5225.
Crude oil prices dropped amid signs of oversupply, signaling a global oil glut.
IEA forecasts a significant surplus in 2026, reflecting growing concerns over worldwide oil oversupply.
Rising production from OPEC+ and other drillers has pressured futures, with Brent nearing the $50s.
Economic data from China have pointed to ongoing weakness in the world’s second-largest economy, clouding the demand outlook.
NATURALGAS
BUY NATURALGAS DEC @ 352 SL 346 TGT 360-365. MCX
Observations
Naturalgas trading range for the day is 342.7-372.3.
Natural gas prices dropped as record production levels and ample storage supplies continue to weigh on prices.
Weather forecasts across the US point to above-average temperatures for much of the country ahead of Christmas.
US utilities withdrew 177 Bcf from underground storage in the week ended December 5.
China’s natural gas consumption will likely expand 5% next year from this year.
