Buy Crude Oil Aug 2021 @ 5430 SL 5360 TGT 5520-5560.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5109-5589.
Crude oil prices fell on worries over China's economy after a survey showed growth in factory activity slipped sharply.
OPEC July oil output hits 15-month high
Novak says Russia is able to boost oil output to 11.3 mln bpd by end 2022.
U.S. will not lock down despite coronavirus surge, Fauci says.
BUY CRUDEOIL AUG 2021 @ 5430 SL 5360 TGT 5520-5560.MCX
NATURAL GAS
Natural gas trading range for the day is 288.4-304.4.
Natural gas rose as forecasts predicted hotter weather over the coming weeks than previously expected, which is likely to boost demand for cooling.
EIA forecast utilities added 36 billion cubic feet (bcf) of gas into storage during the week ended July 23.
U.S. natural gas prices in 2021 at the Henry Hub benchmark in Louisiana will likely rise to their highest since 2018.
U.S. pipeline exports to Mexico have averaged 6.6 bcfd so far in July, down from a record 6.8 bcfd in June.
SELL NAT GAS AUG 2021 @ 294.00 SL 301.00 TGT 288.00-284.50.MCX
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