Sell Natural Gas NOV @ 294 SL ABOVE 298 TGT 286. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL NOV @ 9650 SL BELOW 9550 TGT 9850. MCX
Observations
Crude Oil trading range for the day is 9505-10020.
Crude oil gains as Saudi Arabian refinery attack reignites supply risk concerns OPEC+ likely to keep
December output targets steady US crude stocks fell 2.03 million barrels last week, API data showed
UBS expects Brent to trade at $110/bbl by year-end, up from USD 100/bbl previously
NATURALGAS
SELL NATURALGAS NOV @ 294 SL ABOVE 298 TGT 286. MCX
Observations
Natural Gas trading range for the day is 288.50-298.50.
Natural gas prices rose supported by rising LNG export activity.
Feedgas deliveries to the nine major LNG export plants went up to 19.2 bcfd over the past two weeks.
Growing demand for US LNG from European and Asian buyers also supported prices, as the two regions raced to secure supplies ahead of winter.
However, gains were limited by forecasts for above-normal temperatures across the eastern two-thirds of the country, which could limit heating demand.
