Buy Naturalgas De @ 200 SL 196 TGT 204-208. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6058-6300.
Crude oil rose as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea
Although Angola's decision to leave OPEC raised questions over the group's effectiveness in supporting prices.
U.S. crude output rises to record 13.3 million bpd – EIA
Crude inventories rose by 2.9 million barrels in the week to Dec. 15 to 443.7 million barrels
SELL CRUDEOIL JAN @ 6200 SL 6300 TGT 6100-6000. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 199.2-213.
Natural gas gains on forecasts for much colder weather and higher heating demand in January
Support also seen amid record amounts of gas flow to U.S. liquefied natural gas (LNG) export plants.
Average gas output in the lower 48 U.S. states rose to 108.6 bcfd so far in December from a record 108.3 bcfd in November.
Meteorologists projected the weather would remain warmer than normal through Dec. 30
BUY NATURALGAS DEC @ 200 SL 196 TGT 204-208. MCX
Tag News
Buy Crudeoil Above 6900 SL BELOW 6830 TGT 7000/7050 - Axis Securities Ltd
