Buy Natural Gas Nov @ 396 SL 390 TGT 404-410. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL NOV @ 5370 SL 5300 TGT 5450-5550. MCX
Observations
Crudeoil trading range for the day is 5252-5500.
Crude oil gains due to the impact of the latest U.S. sanctions on Russian oil.
Global supply is expected to outpace demand, with OPEC and allies, including Russia, easing output curbs.
Russia’s top oil firms, Rosneft PJSC and Lukoil PJSC, face US sanctions linked to the Ukraine conflict.
OPEC is set to release its monthly market outlook on Wednesday, alongside the IEA’s annual outlook report.
NATURALGAS
BUY NATURALGAS NOV @ 396 SL 390 TGT 404-410. MCX
Observations
Naturalgas trading range for the day is 369.5-420.1.
Natural gas gains lifted by strong export demand and record activity at LNG facilities.
Flows to the eight major LNG plants averaged around 17.4 bcfd so far this month, topping October’s record.
US output has reached about 108.7 bcfd, above October levels, helping storage rise to roughly 4 percent above the seasonal norm.
The EIA expects both supply and demand to hit new highs in 2025 and 2026, driven by power hungry data centers and surging LNG exports.
