Buy Natural Gas NOV @ 286 SL 280 TGT 293-298. MCX - Kedia Advisory
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CRUDE OIL
Observations
Crudeoil trading range for the day is 6745-7229.
Crude oil fell on a stronger dollar and signs of weak demand.
latest data showed that seasonal demand in the US remained weaker than expected.
.S. crude oil stockpiles jumped last week as refinery utilization dropped, while gasoline inventories posted a surprise build.
Crude inventories rose by 1.4 million barrels in the week to Oct. 20 to 421.1 million barrels
BUY CRUDEOIL NOV @ 6900 SL 6800 TGT 7000-7100. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 275.9-301.1.
Natural gas edged up on forecasts for colder weather and higher heating demand over the next two weeks.
US utilities added 74 bcf of gas into storage, the least in five weeks
LSEG said average gas output in the Lower 48 U.S. states rose to an average of 103.9 bcfd so far in October
Meteorologists noted the weather was turning seasonally cooler and will be much colder than normal from Oct. 29 to Nov 2
BUY NATURALGAS NOV @ 286 SL 280 TGT 293-298. MCX
