Buy Crudeoil Oct 2021 @ 6050 SL 5960 TGT 6150-6200.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5928-6242.
Crude oil dropped as the IMF trimmed its 2021 global growth forecast to 5.9% from the 6.0% forecast it made in July.
Energy crunch stokes inflation, economic recovery concerns
White House stands by calls for OPEC+ to do more on oil prices –official
Citigroup Inc. said oil prices may hit $90 a barrel at times this winter as gas-to-oil switching drives stockpiles lower.
BUY CRUDEOIL OCT 2021 @ 6050 SL 5960 TGT 6150-6200.MCX
NATURAL GAS
Natural gas trading range for the day is 382.8-431.8.
Natural gas gained after the forecast called for cooler weather and higher heating demand than expected earlier in the day.
Warmer-than-normal weather over the past four weeks has already allowed U.S. utilities to stockpile more gas than usual.
Data provider Refinitiv said gas output in the U.S. Lower 48 states rose to an average of 92.2 bcfd so far in October from 91.1 bcfd in September
EU seeking to ensure gas supply to Ukraine, Commission says
BUY NAT GAS OCT 2021 @ 408.00 SL 398.00 TGT 420.00-428.00.MCX
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