Buy Natural Gas NOV @ 275 SL BELOW 270 TGT 285. MCX - Kedia Advisory.
CRUDEOIL
SELL CRUDEOIL NOV @ 9950 SL ABOVE 10100 TGT 9750. MCX
Observations
Crude Oil trading range for the day is 9680-10100.
Crude oil gained as traders braced for a potential escalation in the US-Iran conflict after the US midterm elections.
Qatari mediators returned to Tehran as part of coordinated efforts to reach a deal between the US and Iran.
ANZ raised its December 31 Brent crude oil price forecast to $105 a barrel from $95/bbl previously
UBS has raised its Brent forecast for the second time this month and now expects crude to trade at $110 a barrel at the end of 2026, up from 100.
NATURALGAS
BUY NATURALGAS NOV @ 275 SL BELOW 270 TGT 285. MCX
Observations
Natural Gas trading range for the day is 267.00-285.00.
Natural gas fell after a larger-than-expected storage build and forecasts for milder weather signaled weaker heating demand.
US EIA said energy firms added 80 billion cubic feet of gas to storage during the week ended October 23.
Meteorologists predicted weather across the US would remain mostly milder than normal through November 13, which should limit heating demand.
Average gas output states slid to 112.1 bcfd in October from record highs of 113.3 bcfd in both August and September.
