Sell Natural Gas NOV @ 286 SL ABOVE 290 TGT 278. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL NOV @ 8600 SL ABOVE 8700 TGT 8400. MCX
Observations
Crude Oil trading range for the day is 8425-8660.
Crude oil gained as investors weighed the risk of renewed USIran military escalation against prospects for a diplomatic breakthrough.
US President Donald Trump discussed de-escalation efforts with Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani.
Significant obstacles remain, as Iran is demanding the lifting of the US naval blockade, sanctions relief and the release of frozen assets.
Attacks on oil-carrying vessels continue, with UKMTO data indicating that incidents remain close to record levels.
NATURALGAS
SELL NATURALGAS NOV @ 286 SL ABOVE 290 TGT 278. MCX
Observations
Natural Gas trading range for the day is 278.50-289.00.
Natural gas climbed on forecasts for cooler weather, record gas flows to LNG export plants and a drop in output.
LNG feedgas flows reach 18.8 bcfd in November and could hit daily record on Friday
Storage surplus likely widened to 2.1% above five-year norm, analyst estimates show
Warmer-than-normal weather through Nov. 21 should curb near-term heating demand
