Buy Crude oil Sep 2021 @ 5020 SL 4960 TGT 5100-5140.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5006-5132.
Crude oil prices rose on worries about near-term supply disruptions.
Mexico forecasts $60 per barrel prices for 2022 crude oil exports
U.S. total product supplied rose last week to the highest since March 2020, Energy Information Administration data showed.
U.S. crude oil stockpiles dropped last week to their lowest levels since January 2020, the Energy Information Administration said
BUY CRUDEOIL SEP 2021 @ 5020 SL 4960 TGT 5100-5140.MCX
NATURAL GAS
Natural gas trading range for the day is 305.4-334.
Natural gas jumped on forecasts that hotter than normal weather will extend through midSeptember
Support also seen amid concerns Tropical Storm Ida will shut production in the Gulf of Mexico when it hits the Louisiana area as a major hurricane early next week.
Near record gas prices in Europe and Asia continued to boost U.S. gas futures on expectations U.S. LNG exports will rise to all-time peaks in coming months.
Data provider Refinitiv said gas output in the U.S. Lower 48 states rose to an average of 92.1 bcfd so far in August from 91.6 bcfd in July.
BUY NAT GAS SEP 2021 @ 282.00 SL 277.00 TGT 289.00-294.00.MCX
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