Sell Crudeoil Jan @ 6540 SL 6640 TGT 6640-6720. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6203-6895.
Crude oil climbed amid signs of falling U.S. stockpiles and potential supply shortage due to the sanctions on Iranian.
Prices were also supported by optimism around increased fuel demand from icy conditions in the U.S. and Europe.
US Treasury to impose sanctions on 180 crude oil and fuel vessels transporting Russian oil and dozens of oil traders.
Cold weather in the US reduced inventory levels at Cushing, Oklahoma, to their lowest since 2014.
SELL CRUDEOIL JAN @ 6540 SL 6640 TGT 6640-6720. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 309-363.2.
Natural gas climbed on forecasts for colder weather and higher heating demand
US gas storage withdrawals could hit monthly record high in Jan
Even colder weather still to come over next two weeks
Average gas output slid to 102.6 bcfd so far in January, down from 103.8 bcfd in December.
BUY NATURALGAS JAN @ 338 SL 332 TGT 346-352. MCX
