Sell Crude oil Dec @ 5440 SL 5540 TGT 5340-5240. MCX - Kedia Advisory
CRUDE OIL
SELL CRUDEOIL DEC @ 5440 SL 5540 TGT 5340-5240. MCX
Observations
Crudeoil trading range for the day is 5269-5455. Crude oil soared as expectations of an end to the Russia-Ukraine war dimmed.
Gains also seen supported by Ukrainian attacks on Russian oil assets and stalled peace talks.
Ukraine struck the Druzhba oil pipeline in Russia’s Tambov region, the fifth attack on the route supplying Hungary and Slovakia.
Fitch Ratings cut its 2025-2027 oil price assumptions to reflect market oversupply and production growth.
NATURAL GAS
SELL NATURALGAS DEC @ 460 SL 466 TGT 452-442. MCX
Observations
Naturalgas trading range for the day is 429.9-464.3.
Natural gas fell as worries about abundant supplies.
Pressure also seen ample amounts of gas in storage and lower gas prices in Europe and Asia.
US energy firms withdrew 12 billion cubic feet of natural gas from domestic storages for a total stock of 3,923 bcf. Meteorologists forecast temperatures across the country will remain well below normal through December 9.
