Buy Natural Gas Nov @ 345 SL 340 TGT 350-355. MCX - Kedia Advisory
CRUDE OIL
SELL CRUDEOIL NOV @ 5420 SL 5500 TGT 5320-5250. MCX
Observations
Crudeoil trading range for the day is 5279-5455.
Crude oil recovered as investors assessed a potential trade truce between after U.S. President Trump lowered tariffs on China.
OPEC+ likely to add another 137,000 bpd supply in December
U.S. crude inventories dropped by 6.86 million barrels to 416 million barrels in the week.
IEA raised its forecast for global oil supply growth this year following the decision by the OPEC+ group to hike production
NATURAL GAS
BUY NATURALGAS NOV @ 345 SL 340 TGT 350-355. MCX
Observations
Naturalgas trading range for the day is 330.9-358.9.
Natural gas climbed amid near-record flows to LNG export plants and a drop in output so far this month.
Gas output in Lower 48 states falls to 107.0 bcfd in October
LNG export feedgas on track for monthly record high of 16.5 bcfd in October
Gas storage levels about 5% above normal, easing supply concerns
