Sell Natural gas NOV @ 308 SL ABOVE 313 TGT 300. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL NOV @ 9400 SL BELOW 9300 TGT 9600. MCX
Observations
Crude Oil trading range for the day is 9220-9655.
Crude oil rose after more Houthi attacks in Saudi Arabia stoked concerns over an escalation of the Middle East conflict.
US plans to withdraw family members from regional missions, US officials say
Saudi Aramco asks staff to evacuate headquarters in Dhahran, sources say
Saudi Arabian crude oil exports in August rose by about 7.9% from July to 4.451 mbpd, the highest level since March
NATURAL GAS
SELL NATURALGAS NOV @ 308 SL ABOVE 313 TGT 300. MCX
Observations
Natural Gas trading range for the day is 297.50-311.50.
Natural gas steadied after the EBA reported a smaller-than-expected weekly increase in storage inventories.
US energy companies added 77 bcf of natural gas to storage, falling short of market expectations for an injection of 79 bcf.
Total gas inventories rose to 3.644 tcf, standing 4% below year-earlier levels but 1% above the five-year average for this time of year.
LSEG said average gas output was down from record highs of 113.3 bcfd in August and September to 111.5 bcfd so far in October.
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