Buy Nat Gas Sep 2022 @ 610.00 Sl 580.00 Tgt 645.00-660.00.Mcx - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6523-7003.
Crude oil tumbled amid lingering concerns about the impact of slower global economic growth on demand.
A sign of underlying tight supply, data showed the group fell short of its output target by 3.583 mbpd in August.
U.S. crude oil stocks are estimated to have risen last week by around two million barrels.
The U.S. Energy Department will sell up to 10 million barrels of oil from the Strategic Petroleum Reserve for delivery in November
SELL CRUDEOIL OCT 2022 @ 6900 SL 7050 TGT 6650-6500.MCX
NATURAL GAS
Natural gas trading range for the day is 596.3-648.3.
Natural gas rebounded amid persistent fears of an energy crisis in Europe and nearinsatiable demand.
Data from the EIA pointed to 77 billion cubic feet of gas being added to storage by utilities in the week
Domestic supply is set to rise as the Cove Point LNG plant in Maryland is set to shut down for maintenance in October
Data provider Refinitiv said average gas output in the U.S. Lower 48 states rose to 98.9 bcfd so far in September from a record 98.0 bcfd in August.
BUY NAT GAS SEP 2022 @ 610.00 SL 580.00 TGT 645.00-660.00.MCX
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