Sell Crudeoil Dec @ 5850 SL 5940 TGT 5750-5650. MCX - Kedia Advisory
Crudeoil
Observations
Crudeoil trading range for the day is 5711-5957.
Crude oil dropped amid prospect of increased supply in 2025
U.S. crude stockpiles fell more than expected this week
OPEC+ shifts meeting to Dec. 5, could further delay output hike
IEA sees the prospect of more than 1 mbpd of excess supply - equal to more than 1% of global output.
SELL CRUDEOIL DEC @ 5850 SL 5940 TGT 5750-5650. MCX
NATURALGAS
Observations
Naturalgas trading range for the day is 274.4-290.8.
Natural gas gains after report showing utilities pulled an expected 2 Bcf of gas from storage.
U.S. utilities pulled 2 bcf of gas from storage last week -EIA
Cold weather boosts spot gas prices to highest since January in parts of U.S.
Problems at Freeport LNG in Texas limiting U.S. LNG feedgas
SELL NATURALGAS DEC @ 285 SL 290 TGT 280-275. MCX
