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Published on 18/08/2022 11:22:42 AM | Source: Kedia Advisory

Buy Nat Gas Aug 2022 @ 710.00 SL 685.00 TGT 745.00-760.00.Mcx -Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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Crude oil :

Crude oil trading range for the day is 6723-7225

Crude oil rose after government data showed US crude stockpiles declined by the most in four months

US crude inventories shrank by 7.056 million barrels last week, much more than market expectations of a 0.275-million-barrel decrease

Oil output in the Permian in Texas and New Mexico, is due to rise 79,000 barrels per day (bpd) to a record 5.408 million bpd in September

The EU said that it was studying Iran’s response to a “final” draft agreement on reviving the 2015 nuclear accord

SELL CRUDEOIL AUG 2022 @ 7150 SL 7300 TGT 6950-6850.MCX

 

Natural gas:

Natural gas trading range for the day is 698.1-784.1

.Natural gas dropped on forecasts for less hot weather and lower air conditioning demand over the next two weeks than previously expected.

That small price decline came despite a drop in daily output, hotter-than-normal weather on the West Coast and in Texas, and near-record global prices

Average gas output in the U.S. Lower 48 states rose to 97.3 bcfd so far in August from a record 96.7 bcfd in July.

Average U.S. gas demand, including exports, would rise from 95.0 bcfd this week to 96.3 bcfd next week

BUY NAT GAS AUG 2022 @ 710.00 SL 685.00 TGT 745.00-760.00.MCX

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