BUY NATURALGAS DEC @ 210 SL 206 TGT 215-218. MCX - Kedia Advisory
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CRUDE OIL
Crudeoil trading range for the day is 6079-6337.
Crude oil gains amid concerns about global supply disruptions.
Geopolitical tensions in the Middle East grow with Houthis attacks on ships in the Red Sea.
EIA in the US announced plans to purchase fresh crude supplies to fill strategic reserves.
The US governments announced a purchase of 2.1 million barrels of crude to be delivered in February
SELL CRUDEOIL JAN @ 6200 SL 6300 TGT 6100-6000. MCX
NATURAL GAS
Naturalgas trading range for the day is 197-220.
Natural gas slid on record gas production and lowered heating demand next week Still, record amounts of gas flowed to liquefied natural gas (LNG) export plants and forecasts were lifted for gas demand this week.
Gas production is reaching new highs this month, averaging 108.4 bcfd.
US natgas output and demand to hit record highs in 2023 and 2024 – EIA
BUY NATURALGAS DEC @ 210 SL 206 TGT 215-218. MCX
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