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Published on 20/09/2019 10:20:40 AM | Source: Kedia Commodity Ltd

Buy Nat Gas Sep 2019 @ 187.00 SL 185.00 TGT 189.50-192.00.MCX - Kedia Commodity

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

Crude Oil

* Crude oil trading range for the day is 4081-4309.

* Crude oil prices edged higher amid doubts about the speed of Saudi Arabia’s recovery from the weekend’s attack on its facilities that knocked out a large chunk of its production.

* An Energy Information Administration report showed U.S. oil inventories rose by 1.06 million barrels last week.

* There’s also no need to release emergency stockpiles because current supplies are adequate, International Energy Agency Executive Director Fatih Birol said.

* The global oil market has enough resources to balance a large supply outage without requiring a strategic petroleum reserve

* BUY CRUDEOIL OCT 2019 @ 4100 SL 4070 TGT 4150-4180.MCX

 

Natural Gas

* Natural gas trading range for the day is 176.2-191.2.

*Natural gas fell following the release of a report showing a bigger-than-expected storage build.

* The U.S. Energy Information Administration (EIA) said utilities added 84 billion cubic feet (bcf) of gas to storage during the week ended Sept. 13.

* The amount of gas in inventory has remained below the five-year average since September 2017.

* Warmer than normal weather caused power generators to burn more gas than usual to keep air conditioners humming.

*  BUY NAT GAS SEP 2019 @ 187.00 SL 185.00 TGT 189.50-192.00.MCX

 

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