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Crude oil

SELL CRUDEOIL DEC @ 5360 SL 5460 TGT 5260-5170. MCX

Observations

Crudeoil trading range for the day is 5241-5495.

Crude oil prices fell as investors monitored ongoing talks to end the war in Ukraine.

Saudi Arabia lowering its January Arab light crude price for Asia to its lowest level in five years.

China's November crude oil imports reach highest daily level in 27 months

Traders now look ahead to monthly market reports from both the EIA and OPEC+, due later this week.

Natural gas

SELL NATURALGAS DEC @ 455 SL 462 TGT 446-440. MCX

Observations

Naturalgas trading range for the day is 427.8-480.4.

Natural gas fell on forecasts for less cold weather, near-record output, ample amounts of gas in storage

US LNG exports surged 40% year-on-year in November to 10.7 million tonnes, even as domestic producers continued ramping up output.

The number of rigs drilling for natural gas in the United States fell by 1 to 129.

Speculators in NYMEX and ICE reduced their net long positions by 23,064 contracts to 181,005 contracts.