Buy NaturalGas Dec @ 318 SL 314 TGT 325-330. MCX - Kedia Advisory
CRUDE OIL
Observations
Crudeoil trading range for the day is 5809-6009.
Crude oil recovers after soft PCE readings helped ease concerns about the outlook for interest rate cuts.
Sinopec sees China's crude imports possibly peaking in 2025
Trump wants EU to buy more US oil, gas or face tariffs
OPEC+, recently cut its growth forecast for 2024 global oil demand for a fifth straight month
BUY CRUDEOIL JAN @ 5900 SL 5820 TGT 6000-6080. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 294.5-335.3.
Natural gas rose as bets of stronger global LNG demand magnified the outlook of higher domestic consumption.
Fresh forecasts of a cold front in the US halfway through January drove the industry to raise demand forecasts by 18 billion cubic feet.
Meteorologists projected weather in the Lower 48 would remain mostly warmer than normal through at least Jan. 4. 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.
BUY NATURALGAS DEC @ 318 SL 314 TGT 325-330. MCX
