Buy Nat Gas OCT 2021 @ 374.00 SL 363.00 TGT 386.00-392.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5998-6350.
Crude oil dropped after the Chinese government stepped up efforts to tame record high coal prices and ensure coal mines operate at full capacity
U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said
Oil at $75 – $85 is 'acceptable' long – term price, Iraqi minister says
Oil could reach $100/bbl in first half of 2022, Iraqi minister says
SELL CRUDEOIL NOV 2021 @ 6250 SL 6360 TGT 6125-6060.MCX
NATURAL GAS
Natural gas trading range for the day is 359.4-405.
Natural gas edged up on forecasts calling for cooler weather and higher heating demand over the next two weeks than previously expected.
Prices fell to a near four-week low earlier in the day on early forecasts calling for the weather to remain warmer than usual
Speculators cut their net long positions for a second week in a row last week to their lowest since April 2021
U.S. gas stockpiles, unlike those in Europe, were in good shape for the winter, with more than enough fuel available for the heating season.
BUY NAT GAS OCT 2021 @ 374.00 SL 363.00 TGT 386.00-392.00.MCX
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