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Crude oil

SELL CRUDEOIL JAN @ 5280 SL 5360 TGT 5200-5140. MCX

Observations

Crudeoil trading range for the day is 5127-5327.

Crude oil rose as unrest in the Middle East, is fueling concerns over potential supply disruptions.

China announced plans to expand fiscal spending in 2026, signaling continued support for economic growth, which could boost oil consumption.

U.S. oil production is expected to hit a larger record this year than previously expected – EIA

API data showed that crude inventories rose by 2.4 million barrels last week

Natural gas

BUY NATURALGAS JAN @ 350 SL 344 TGT 358-363. MCX

Observations

Naturalgas trading range for the day is 334.1-374.7.

Natural gas rose as forecasts pointed to colder weather and increased demand in the weeks ahead.

Natural gas speculators decreased their net long positions by 75,292 contracts to a total of 164,467.

Average gas demand in the lower 48 states, would rise from 136.1 bcfd to 138.5 bcfd over the next two weeks.

Russia's production of natural gas in January-November declined by 3% year-on-year to 507 billion cubic metres.