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CRUDE OIL

Observations

Crudeoil trading range for the day is 6300-6610.

Crude oil dipped amid record high output in US.

EIA raised its forecast for this year's crude output growth by less than expected

IEA said that the oil market won't be as tight as initially thought for the current quarter

Stocks of crude oil in the US rose by 1.335 million barrels – API

SELL CRUDEOIL NOV @ 6500 SL 6600 TGT 6400-6300. MCX

NATURAL GAS

Observations

Naturalgas trading range for the day is 249.7-282.7.

Natural gas gained on forecasts for colder weather and more heating demand

Average gas output in the Lower 48 U.S. states rose to 107.3 bcfd so far in November

Over the past three days, output was on track to drop by about 2.6 bcfd to a preliminary one-week low of 105.9 bcfd.

North Dakota natgas output hits record high in Sept, flaring edges up

SELL NATURALGAS NOV @ 274 SL 280 TGT 268-264. MCX