Sell NaturalGas Dec @ 276 SL 280 TGT 271-267. MCX - Kedia Advisory
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
