Buy Nat Gas Oct 2021 @ 424.00 SL 415.00 TGT 440.00-452.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5398-5728
Crude oil settled lower weighed by a stronger dollar and data showing a surge in U.S. crude stockpiles last week.
U.S. crude stocks, gasoline and distillate inventories rose last week, the Energy Information Administration said.
The American Petroleum Institute reported that U.S. crude oil, gasoline and distillate inventories rose last week.
Barclays raises 2022 oil price view on likely supply deficit
SELL CRUDEOIL OCT 2021 @ 5600 SL 5680 TGT 5500-5440.MCX
NATURAL GAS
Natural gas trading range for the day is 384.4-448.2.
Natural gas fell on forecasts for continued mild weather over the next two weeks that should allow utilities to put enough gas into U.S. storage
Stockpiles were about 7% below normal for this time of year in the United States versus over 20% below normal in some European countries
Data provider Refinitiv said gas output in the U.S. Lower 48 states had fallen to an average of 90.9 billion cubic feet per day (bcfd) so far in September
Gas prices at record highs of around $29 per mmBtu in Europe and Asia versus just around $6 in the United States
BUY NAT GAS OCT 2021 @ 424.00 SL 415.00 TGT 440.00-452.00.MCX
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