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Published on 17/09/2019 10:52:51 AM | Source: Kedia Commodity Ltd

Buy Crudeoil Sep 2019 @ 4200 SL 4150 TGT 4280-4320.MCX - Kedia Commodity

Posted in Commodities Reports| #Kedia Commodity Ltd #Commodity Tips

Crude Oil

* Crude oil trading range for the day is 3734-4948.

* Crude oil prices gained after an attack on Saudi Arabian oil facilities at the weekend halved the kingdom's production.

* U.S. President Donald Trump approved the use of his country's emergency oil stockpile to ensure stable supply.

* The attack on state-owned producer Saudi Aramco's crude-processing facilities at Abqaiq and Khurais cut output by 5.7 million barrels per day.

* Hedge funds and other money managers raised their net long U.S. crude futures and options positions in the week to Sept. 10, the U.S. CFTC said.

* BUY CRUDEOIL SEP 2019 @ 4200 SL 4150 TGT 4280-4320.MCX

 

Natural Gas

* Natural gas trading range for the day is 184-197.

* Natural gas gained as gas followed the oil market higher after crude jumped 15% following a weekend attack on Saudi Arabian oil facilities halved the kingdom's production.

* Prices were also higher on forecasts for more cooling demand and liquefied natural gas (LNG) exports this week than previously expected.

* Projected demand in the lower 48 U.S. states would reach 85.4 billion cubic feet per day (bcfd) this week, up from its forecast of 84.9 bcfd.

* Gas speculators cut their net short positions on the NYMEX and ICE by a record 84,427 contracts to 89,116 in the week to Sept. 10, their lowest since early June

* SELL NAT GAS SEP 2019 @ 184.00 SL 186.00 TGT 181.00-179.00.MCX

 

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