Buy Natural Gas Jan @ 308 SL 300 TGT 316-322. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL JAN @ 5300 SL 5380 TGT 5220-5140. MCX
Observation
Crudeoil trading range for the day is 5031-5409.
Crude oil inched higher as OPEC+ has reiterated its commitment to keep output unchanged in the first quarter.
U.S. oil production hit a record high in October, according to the Energy Information Administration.
US crude oil inventories, fell by 1.934 million barrels in the week ending December 26, the largest weekly drop since mid-November
Gasoline stocks rose sharply by 5.845 million barrels, far exceeding forecasts of 1.9 million
NATURALGAS
BUY NATURALGAS JAN @ 308 SL 300 TGT 316-322. MCX
Observations
Naturalgas trading range for the day is 292.5-338.9.
Natural gas dropped pressured by forecasts for warmer weather nationwide and lower demand projections.
LSEG forecasted average gas demand, would rise marginally from 133.0 bcfd to 134.2 bcfd next week.
LSEG said average natural gas output in the lower 48 U.S. states climbed to 109.2 billion cubic feet per day in January
EIA said energy firms pulled 38 billion cubic feet (bcf) of gas out of storage during the week ended December 26
