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CRUDEOIL

Crude oil trading range for the day is 5053-5215.

Crude oil prices dropped as the IEA cut forecasts for global oil demand "sharply" for the rest of this year

White House: OPEC+ output not enough, may harm global recovery

White House not asking U.S. oil producers to increase output

U.S. crude, gasoline stockpiles dip; fuel consumption falls –EIA

BUY CRUDEOIL AUG 2021 @ 5000 SL 4920 TGT 5090-5150.MCX

NATURAL GAS

Natural gas trading range for the day is 284.6-306.4.

Natural gas fell on forecasts for slightly less hot weather and lower air conditioning demand this week than previously expected.

That decline also came after federal data showed last week's storage build was bigger than usual due to mild weather and a decline in exports.

EIA said utilities added 49 billion cubic feet (bcf) of gas into storage during the week ended Aug. 6.

Last week's injection boosted stockpiles to 2.776 trillion cubic feet (tcf), or 6.0% below the five-year average of 2.954 tcf for this time of year.

BUY NAT GAS AUG 2021 @ 288.00 SL 281.00 TGT 295.00-298.00.MCX

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