Buy Crudeoil Sep 2021 @ 5150 SL 5080 TGT 5220-5280.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5154-5466
Crude oil gained after data showed a larger-than-expected drawdown in U.S. crude inventories and on expectations demand will rise as vaccination roll-outs widen.
U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said
Crude inventories fell by 6.4 million barrels in the week to Sept. 10 to 417.4 million barrels
Russia's quarterly crude oil exports to rise by 2.1% in Q4 vs Q3
BUY CRUDEOIL SEP 2021 @ 5150 SL 5080 TGT 5220-5280.MCX
NATURAL GAS
Natural gas trading range for the day is 375.9-427.1.
Natural gas jumped as soaring global gas prices kept demand for U.S. exports high and as almost half of gas production in the Gulf of Mexico remains shut
Prices in the U.K. and the Netherlands soar to record highs as concerns over tight supplies mount while demand increases
Prices also rose on worries Tropical Storm Nicholas could delay the already slow return of production in the Gulf of Mexico
Prices rose despite forecasts for less hot weather and lower demand over the next two weeks than previously expected.
BUY NAT GAS SEP 2021 @ 388.00 SL 380.00 TGT 396.50-402.00.MCX
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