2025-01-15 10:50:52 am | Source: Kedia Advisory
Sell Crudeoil Jan @ 6760 SL 6860 TGT 6660-6560. MCX - Kedia Advisory
Sell Crudeoil Jan @ 6760 SL 6860 TGT 6660-6560. MCX - Kedia Advisory

Crudeoil

Observations

Crudeoil trading range for the day is 6617-6915.

Crude oil slipped on profit booking after market remained supported by new U.S. sanctions on Russian oil exports.

Uncertainty about demand from major buyer China could blunt the impact of the tighter supply.

China's crude oil imports fell in 2024 for the first time in two decades, opens new tab outside of the COVID-19 pandemic.

Cold weather in the US reduced inventory levels at Cushing, Oklahoma, to their lowest since 2014.

SELL CRUDEOIL JAN @ 6760 SL 6860 TGT 6660-6560. MCX

 

Naturalgas

Observations

Naturalgas trading range for the day is 313.4-369.

Natural gas gained driven by forecasts for colder weather next week, potentially boosting demand to a new daily record.

This increase occurred despite lower heating demand and a reduction in gas curtailments due to freezing wells.

Speculators boosted their net long futures and options positions for a fifth week in a row to the highest since February 2022

There is currently about 7% more gas in storage than usual for this time of year.

SELL NATURALGAS JAN @ 352 SL 358 TGT 342-335. MCX

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