Crude Oil & Natural Gas Outlook @ Trading Advices for Today

Outlook: 

Back bone of the global economy – Crude oil and Natural gas as well, is also on the radar of the market nowadays. Year is coming to an end and the full year crude oil has already gained more than 100 percent. Crude has risen nearly 15 percent in just the last 15 days and after OPEC decision price has jumped 10 percent.

Natural gas is second to none in terms of returns. Has rallied 60 percent this year. Natural gas has rose 30 percent in the last 15 days and currently is trading at the upper level of two years. So, how about the outlook for crude oil and natural gas. Knowing this brings us to the special offer.

The good news for the markets where it comes from crude is Strongly bullish. In fact, the first time since 2008. OPEC will cut crude oil production. Crude production in OPEC countries agreed to cut 1.2 million barrels per day has become. OPEC’s new production ceiling for countries around 3.25 lakh million barrels of crude oil was fixed. Saudi crude output to 1 million barrels a limit has been reduced to 37 million, while Iran has limit of 97 thousand barrels. Indonesia is out of OPEC quotas, which led to its share in other member states are split.

OPEC agreed to cut output at the meeting spot crude oil prices have risen since. Brent crude has risen beyond $ 53, on the NYMEX crude has risen beyond $ 50. MCX crude oil in the domestic market stood at Rs 3470. As a reminder, in July 2008 the crude touched $ 147.27, the highest level, and now from the lows of February 2016. The price of crude has doubled.

Experts say that if the non-OPEC countries, even if the OPEC production cut deal would be quite successful. Also, look at the attitude of the US is no longer produced. The price of crude falling off the rig had many American companies. It is believed that US companies have increased crude prices raise production again, which increased the supply of crude oil in the US will come down again.

Natural gas prices in the global market is at a height of 2 years. Natural gas prices rose by 30 per cent in the last 2 weeks is. Reduced demand and natural gas reserves are found support. Projected to grow cold in the US faster than natural gas is seeing. 2015. Natural gas production has declined this year. The annual production of natural gas fell for the first time in 2005, in such demand in the US is projected to grow.

Intraday Advice for Crude Oil

Day Trader can Sold MCX Crude Oil at around 3480 to 3470 with December Future Contract Targets 3445, 3425 Stop loss 3521.

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