Sell Natural Gas NOV @ 283 SL ABOVE 287 TGT 276. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL NOV @ 9700 SL BELOW 9600 TGT 9900. MCX
Observations
Crude Oil trading range for the day is 9420-9880.
Crude oil dropped as hopes for peace talks took the edge off renewed concerns over Middle East supply disruptions.
US crude and distillate inventories fell due to higher demand, while gasoline stockpiles rose last week
U.S. gasoline stocks rose by 3.9 million barrels in the week to 209.2 million barrels, the EIA said
UBS sees $110 brent by year-end as Gulf flows stay below prewar levels
NATURALGAS
SELL NATURALGAS NOV @ 283 SL ABOVE 287 TGT 276. MCX
Observations
Natural Gas trading range for the day is 265.50-302.50.
Natural gas dropped amid recovering domestic production and stronger-than-expected storage additions.
US energy companies added 80 bcf of natural gas to storage, exceeding market expectations for an injection of 75 bcf.
Average gas output slid to 112.1 bcfd so far in October, down from record highs of 113.3 bcfd in both August and September.
Average gas flows to the nine major US LNG export plants has risen to 18.5 bcfd so far in October, up from 17.9 bcfd in September
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