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Published on 18/09/2020 11:32:51 AM | Source: Kedia Advisory

Buy Crudeoil Sep 2020 @ 2880 SL 2840 TGT 2920-2960.MCX - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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CRUDEOIL

Crude oil trading range for the day is 2857-3117.

Crude oil gained as drawdown in U.S. crude and gasoline inventories supported while production started in the Gulf of Mexico after Hurricane Sally.

U.S. crude stockpiles drop unexpectedly, diesel builds –EIA

U.S. crude output rises for two straight weeks – EIA

OPEC+ compliance in August seen at 101%

BUY CRUDEOIL SEP 2020 @ 2880 SL 2840 TGT 2920-2960.MCX

 

NATURAL GAS

Natural gas trading range for the day is 135.3-175.7.

Natural gas dropped after last week's storage build was bigger than expected, keeping stockpiles on track to reach a record high by the end of October.

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 @ 168.00 SL 174.00 TGT 162.00-182.50.MCX

 

 

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