Buy Nat Gas Sep 2021 @ 340.00 SL 334.00 TGT 346.00-348.50.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4910-5144.
Crude oil dropped as investors weighed positive economic data from China against demand woes after Saudi Arabia cut crude prices for Asian customers.
Saudi Arabia's sharp cuts in crude contract prices for Asia sparked fears over slower demand
China August crude oil imports rise as refiners resume buying
The supply disruptions in the U.S.in the aftermath of Hurricane Ida also helped limit the downside to some extent
BUY CRUDEOIL SEP 2021 @ 5020 SL 4940 TGT 5100-5140.MCX
NATURAL GAS
Natural gas trading range for the day is 328.8-348.6.
Natural gas slipped as forecasts projected milder weather and energy firms continued efforts to restart facilities along the U.S. Gulf Coast after Hurricane Ida.
U.S. Gulf Coast energy companies have advanced efforts to restart facilities, but larger hurdles remain for producers and refiners.
A weekly report showing a storage injection of just 20 billion cubic feet (bcf) during the week ended Aug. 27 also supported prices.
U.S. pipeline exports to Mexico rose to an average 6.3 bcfd so far this month, from 6.2 bcfd in August, but were slightly lower than June's monthly record of 6.7 bcfd.
BUY NAT GAS SEP 2021 @ 340.00 SL 334.00 TGT 346.00-348.50.MCX
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