Buy Natural Gas Nov @ 382 SL 377 TGT 388-394. MCX - Kedia Advisory
CRUDE OIL
BUY CRUDEOIL NOV @ 5250 SL 5180 TGT 5340-5420. MCX
Observations
Crudeoil trading range for the day is 5216-5404.
Crude oil gains on short covering after prices dropped as fears of a potential glut continued to weigh on the market.
U.S. crude stocks rose more than expected on higher imports and reduced refining activity while gasoline and distillate inventories declined.
OPEC+ output increased last month as key members resumed halted production.
China's October crude oil imports rise 8.2% year – on – year, up 2.3 % from September.
NATURAL GAS
BUY NATURALGAS NOV @ 382 SL 377 TGT 388-394. MCX
Observations
Naturalgas trading range for the day is 372.5-398.9.
Natural gas climbed as near-record flows to LNG export plants boosted demand.
Near-record LNG export flows boost demand for US gas
EIA reports smaller-than-usual storage build for last week
Gas output hits record highs, storage levels above average
