Buy Naturalgas Jan @ 285 SL 275 TGT 295-305. MCX - Kedia Advisory
Crudeoil
Observations
Crudeoil trading range for the day is 6196-6472.
Crude oil gains on optimism surrounding China's commitment to economic growth and signs of shrinking crude stockpiles in U.S.
Crude inventories fell by 1.2 million barrels to 415.6 million barrels last week, the EIA said
U.S. gasoline and distillate inventories jumped as refineries ramped up output, though fuel demand hit a two-year low.
Traders are closely monitoring geopolitical developments, including the potential impact of Donald Trump’s return to the White House.
BUY CRUDEOIL JAN @ 6320 SL 6220 TGT 6420-6520. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 267.3-329.9.
Natural gas dropped on forecasts for less cold weather in mid January than previously expected.
That price drop came despite near record gas flows to U.S. liquefied natural gas (LNG) export plants.
Average gas output in the Lower 48 U.S. states rose to 105.0 bcfd so far in January, up from 103.8 bcfd in December.
Meteorologists projected weather in the Lower 48 states would remain mostly colder than normal through Jan. 15.
BUY NATURALGAS JAN @ 285 SL 275 TGT 295-305. MCX
