Buy Natural Gas DEC @ 370 SL 362 TGT 382-390. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL JAN @ 5220 SL 5140 TGT 5320-5380. MCX
Observations
Crudeoil trading range for the day is 5226-5326.
Crude oil rose supported by escalating geopolitical tensions.
The US continues efforts to intercept another oil tanker near Venezuela.
API data showed that crude inventories rose by 2.4 million barrels last week
Hostilities between Ukraine and Russia have again targeted energy-related assets, with a recent strike damaging port infrastructure.
NATURALGAS
BUY NATURALGAS DEC @ 370 SL 362 TGT 382-390. MCX
Observations
Naturalgas trading range for the day is 353.7-423.7.
Natural gas dropped as slightly warmer temperatures this winter lower natural gas and electricity demand.
Inventories began the season above the five-year average, slightly below last winter, and are expected to remain robust.
At the same time, production hovers at a record high. Average deliveries to the eight major
US LNG plants rose to 18.5 bcfd so far in December, surpassing November’s record.
