Sell CrudeOil Nov@ 5480 SL 5580 TGT 5380-5300. MCX - Kedia Advisory
CRUDE OIL
SELL CRUDEOIL NOV @ 5480 SL 5580 TGT 5380-5300. MCX
Observations
Crudeoil trading range for the day is 5350-5518.
Crude oil prices edged slightly higher as OPEC+ agreed to halt production hikes for the first quarter of 2026.
OPEC+ agrees to small December oil output hike, and Q1 pause
OPEC’s Al Ghais says oil demand outlook remains positive, no market surprises expected
Morgan Stanley raised its Brent crude forecast for the first half of 2026 to $60 a barrel from $57.5.
NATURAL GAS
SELL NATURALGAS NOV @ 384 SL 390 TGT 377-372. MCX
Observations
Naturalgas trading range for the day is 356-393.2.
Natural gas climbed supported by stronger heating demand and robust LNG exports to Europe and Asia.
Colder weather forecasts for early winter boosted expectations for increased gas consumption, while LNG export flows averaged 16.6 bcfd in October
US output remained high at around 107 bcfd, keeping the market well supplied.
Storage levels in the Lower 48 states increased by 74 billion cubic feet in the week ending October 27.
