Buy Nat Gas Aug 2022 @ 625.00 SL 605.00 TGT 655.00-670.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6869-7519.
Crude oil prices climbed higher lifted by data showing a bigger-than-expected drop in gasoline inventories in the U.S.
U.S. crude inventories up more than 5 million bbls
U.S. inflation data softer than expected, but Fed hike expected
API shows crude, distillate stocks rise, gasoline stocks fall
SELL CRUDEOIL AUG 2022 @ 7400 SL 7550 TGT 7200-7050.MCX
NATURAL GAS
Natural gas trading range for the day is 600.5-672.1.
Natural gas rose on a preliminary drop in daily output and forecasts for more demand than previously expected.
That price increase came despite forecasts for less hot weather over the next two weeks that will reduce air conditioning use next week.
Freeport expects to return the facility to at least partial service in early October.
Gas speculators boosted their net short futures and options positions to the most since March 2020 for a second week in a row.
BUY NAT GAS AUG 2022 @ 625.00 SL 605.00 TGT 655.00-670.00.MCX
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