Powered by: Motilal Oswal
03-12-2024 09:57 AM | Source: Kedia Advisory
Sell NaturalGas Dec @ 276 SL 280 TGT 271-267. MCX - Kedia Advisory

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

Crudeoil

Observations

Crudeoil trading range for the day is 5692-5908.

Crude oil prices decline amid Opec+ meeting anticipation and demand concerns

IEA highlighted the risk of excess global supply exceeding 1 mbpd in the coming months

Money managers cut their net long U.S. crude futures and options positions - CFTC

OPEC+ shifts oil policy meeting to Dec. 5 from Dec. 1

SELL CRUDEOIL DEC @ 5820 SL 5900 TGT 5720-5650. MCX

 

Natural Gas

Observations

Naturalgas trading range for the day is 261.7-284.7.

Natural gas dropped as lower heating demand expectations have eased pressure on utilities to draw heavily from storage.

US gas production remains robust at 101.5 bcfd in November, but well below last year’s peak of 105.3 bcfd.

Average gas output in the Lower 48 U.S. states rose to 101.4 bcfd so far in November from 101.1 bcfd in October.

Meteorologists projected that weather in the Lower 48 will turn from mostly colder than normal now through Dec. 3.

SELL NATURALGAS DEC @ 276 SL 280 TGT 271-267. MCX

To Read Complete Report & Disclaimer     Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer