Sell Natural Gas NOV @ 293 SL ABOVE 298 TGT 282. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL NOV @ 9800 SL ABOVE 9900 TGT 9600. MCX
Observations
Crude Oil trading range for the day is 9375-10040.
Crude oil prices rose after Houthi attacks in Saudi Arabia stoked concern over further disruption to energy supplies.
In Libya, an oil pipeline valve from the Hamada and Tahara oilfields to Zawiya port has been shut.
Crude inventories fell by 3.06 million barrels to 412.5 million barrels in the week ended October 16, the EIA said.
Saudi Arabian crude oil exports in August rose by about 7.9% from July to 4.451 mbpd, the highest level since March.
NATURALGAS
SELL NATURALGAS NOV @ 293 SL ABOVE 298 TGT 282. MCX
Observations
Natural Gas trading range for the day is 283.00-307.50.
Natural gas fell on mild weather forecasts, an expected storage build, and an increase in daily output.
EIA says utilities add 77 billion cubic feet of gas to storage in week ended October 16.
Above-average temperatures are expected across the Midwest and East through November 5.
Average gas flows to the nine major US LNG export facilities rose to 18.2 bcfd in October, up from 17.9 bcfd in September.
