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Buy NaturalGas Nov @ 266 SL 262 TGT 272-276. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 5757-5955.
Crude oil prices drifted lower on weak demand and data showing an increase in U.S. crude inventories.
Kazakhstan's biggest oil field Tengiz, has reduced oil output by 28%-30% due to ongoing repairs
US crude oil inventories jumped by 4.753 million barrels, after falling by 0.77 million barrels in the previous week - API
IEA sees 2025 oil market in supply surplus
BUY CRUDEOIL DEC @ 5800 SL 5720 TGT 5880-5950. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 253.6-279.6.
Natural gas edged up on forecasts for colder weather in late November that should boost heating demand.
Average gas output in the Lower 48 U.S. states eased to 100.6 bcfd so far in November from 101.3 bcfd in October.
There was currently about 7% more gas in storage than normal for this time of year.
Many producers reduced drilling activities this year after average spot monthly prices at the U.S. Henry Hub benchmark fell to a 32-year low.
BUY NATURALGAS NOV @ 266 SL 262 TGT 272-276. MCX
