Buy Nat Gas Oct 2022 @ 530.00 SL 515.00 TGT 550.00-565.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6938-7548.
Crude oil dropped as OPEC cuts 2022, 2023 oil demand growth view as economy slows
Oil demand will increase by 2.64 mbpd or 2.7% in 2022, down 460,000 bpd from the previous forecast.
The cartel also trimmed its 2023 forecast by 360,000 bpd to 102.02 million bpd.
OPEC output rose by 146,000 bpd to 29.77 million bpd in September, led by Saudi Arabia and Nigeria.
SELL CRUDEOIL OCT 2022 @ 7450 SL 7600 TGT 7280-7200.MCX
NATURAL GAS
Natural gas trading range for the day is 512.4-572.4
Natural gas fell on record output and reduced LNG exports
That price drop came despite forecasts for colder weather and higher heating demand over the next two weeks than previously expected.
U.S. natural gas storage is expected to end the April-October injection season at 3.437 trillion cubic feet (tcf) on Oct. 31, the lowest since 2018
Data provider Refinitiv said average gas output in the U.S. Lower 48 states has risen to 100.1 bcfd so far in October
BUY NAT GAS OCT 2022 @ 530.00 SL 515.00 TGT 550.00-565.00.MCX???????
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