Buy Nat Gas Aug 2022 @ 720.00 SL 695.00 TGT 760.00-780.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6862-7484.
Crude oil prices rose amid robust U.S. fuel consumption data and expected falls in Russian supply later in the year
OPEC Sec Gen says oil slide driven by fear, upbeat on 2023 outlook
U.S. crude stocks fall by over 7 million barrels
Russian supply set to be sharply curbed by EU sanctions
SELL CRUDEOIL SEP 2022 @ 7400 SL 7600 TGT 7150-7000.MCX
NATURAL GAS
Natural gas trading range for the day is 682.2-798.
Natural gas rose on a smaller-than-expected storage build and as hot weather boosted spot prices to multi-year highs across the country.
Also supporting prices, global gas was trading at record highs and the latest forecasts called for more U.S. demand over the next two weeks than previously expected.
EIA forecast U.S. utilities added 18 billion cubic feet (bcf) of gas to storage during the week ended Aug
Average gas output in the U.S. Lower 48 states rose to 97.3 bcfd so far in August from a record 96.7 bcfd in July.
BUY NAT GAS AUG 2022 @ 720.00 SL 695.00 TGT 760.00-780.00.MCX
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