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 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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