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Published on 21/09/2020 12:56:47 PM | Source: Kedia Advisory

Buy Crudeoil SEP 2020 @ 2990 SL 2930 TGT 3060-3090.MCX - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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CRUDEOIL

Crude oil trading range for the day is 2924-3076.

Crude oil dropped as producers prepared to resume operations in the Gulf of Mexico and data showed Saudi Arabian exports rose from record lows.

U.S. crude oil production rose last week for the second week in a row, growing to 10.9 million barrels per day

Saudi energy minister warns oil market gamblers will be hurt "like hell"

Saudi Arabia crude exports rebound in July from historic lows

BUY CRUDEOIL SEP 2020 @ 2990 SL 2930 TGT 3060-3090.MCX

 

NATURAL GAS

Natural gas trading range for the day is 139.9-156.7.

Natural gas dropped as rising output in the Gulf of Mexico after Hurricane Sally offset an increase in LNG exports.

Prices were already trading down on expectations output would start to rise from a twoyear low as producers return wells shut-in for Hurricane Sally

EIA said utilities injected 89 billion cubic feet (bcf) of gas into storage in the week ended Sept. 11.

The increase boosted stockpiles to 3.614 tcf, 13.2% above the five-year average of 3.193 tcf for this time of year.

SELL NAT GAS SEP 2020 @ 152.00 SL 156.00 TGT 146.60-144.00.MCX

 

 

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