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CRUDEOIL

BUY CRUDEOIL NOV @ 9000 SL BELOW 8850 TGT 9300. MCX

Observations

Crude Oil trading range for the day is 8615-9615.

Crude oil prices rose as an Iranian official said a deal to the end the war was far off Oil stocks in US strategic petroleum reserve fall to lowest level since 1982

Goldman Sachs raises Brent crude forecast to $105 for December, sees oil at $88 in 2027 amid Iran war risks

Libya's National Oil Corporation said an armed group shut a valve on the main Hamada crude oil pipeline halting flows.

NATURALGAS

BUY NATURALGAS NOV @ 268 SL BELOW 264 TGT 278. MCX

Observations

Natural Gas trading range for the day is 267.50-282.50.

Natural gas prices rose driven by tightening production and a slightly colder weather outlook.

Lower production over the weekend, particularly in the Appalachia shale region, offered some support.

Slightly cooler weather forecasts also provided a modest boost to expectations for heating and power demand as the winter season begins.

However, the upside remains constrained by expectations of warmer-than-average conditions across most of the country through November 16.