BUY NATURALGAS JAN @ 200 SL 196 TGT 204-208. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6011-6495.
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 @ 6400 SL 6500 TGT 6300-6200. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 194.1-208.9.
Natural gas dropped amid record output and mild weather.
That price decrease came despite on forecasts for much colder weather and higher heating demand in January
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 JAN @ 200 SL 196 TGT 204-208. MCX
