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Buy Naturalgas Dec @ 298 SL 292 TGT 306-312. MCX - Kedia Advisory
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Crudeoil
Observation
Crudeoil trading range for the day is 5847-6067.
Crude oil dropped amid concerns about the outlook for oil demand, especially China
U.S. Fed outlook for two rate cuts in 2025 stirs demand worries
Global oil demand growth running below JP Morgan forecast
Saudi Arabia's crude oil exports in October rose to their highest level in four months
SELL CRUDEOIL JAN @ 5960 SL 6040 TGT 5870-5800. MCX
Naturalgas
Observation
Naturalgas trading range for the day is 284.9-310.5.
Natural gas rose as bets of stronger global LNG demand magnified robust domestic consumption.
US utilities withdrew 125 billion cubic feet of natural gas from storage
Average gas output in the Lower 48 U.S. states rose to 103.1 bcfd so far in December, up from 101.5 bcfd in November.
Meteorologists projected weather in the Lower 48 states would remain mostly warmer than normal through Jan. 1.
BUY NATURALGAS DEC @ 298 SL 292 TGT 306-312. MCX
