Buy Naturalgas Nov @ 238 SL 234 TGT 243-248. MCX - Kedia Advisory
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CRUDE OIL
Observations
Crudeoil trading range for the day is 5545-5835.
Crude oil dropped as concerns about supply disruptions faded after Israel avoided hitting Iranian oil facilities.
Prices weighed down by concerns about the outlook for demand from China, an increase in crude inventories in U.S.
US seeks up to 3 million barrels of oil for emergency reserve
Saudi Arabia committed to maintaining crude capacity at 12.3 mln bpd, energy minister says
BUY CRUDEOIL NOV @ 5640 SL 5540 TGT 5740-5840. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 232.2-248.
Natural gas gains amid drop in output and forecasts for slightly cooler weather and a little more heating demand.
With mild weather squeezing demand and output mostly rising, projected utilities likely injected more gas into storage than normal last week.
Average gas output in the Lower 48 U.S. states slipped to 101.7 bcfd so far in October, down from 101.8 bcfd in September.
Meteorologists projected the weather in the Lower 48 states would remain mostly warmer than normal through at least Nov. 13.
BUY NATURALGAS NOV @ 238 SL 234 TGT 243-248. MCX
