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CRUDE OIL

SELL CRUDEOIL DEC @ 5360 SL 5440 TGT 5270-5200. MCX

Observations

Crudeoil trading range for the day is 5221-5443.

Crude oil unchanged after OPEC+ reaffirmed its decision to suspend production increases during the first quarter of next year.

Caspian Pipeline Consortium halted exports after a major drone attack and U.S.-Venezuela tensions raised concerns about supply.

The outcome of OPEC+ meeting marked a turning point, citing Saudi Energy Minister Prince Abdulaziz bin Salman.

U.S. oil production rose to a record high in September, despite oversupply worries - EIA

NATURAL GAS

SELL NATURALGAS DEC @ 438 SL 445 TGT 430-422. MCX

Observations

Naturalgas trading range for the day is 419.5-447.5.

Natural gas climbed driven by forecasts for colder weather and higher demand.

A bigger-than-expected storage withdrawal data also provided support.

Average gas output in the Lower 48 states rose to 109.7 bcfd so far in November, up from 107.4 bcfd in October.

Record output this year has allowed energy companies to stockpile more gas than usual, with about 4% more gas in storage.