Buy Natural Gas Aug 2021 @ 288.00 SL 282.00 TGT 295.00-298.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4827-5127.
Crude oil rose on a bullish demand outlook as Mexico suffered a big production outage and U.S. regulators issued their first full approval for a COVID-19 vaccine.
India's July refinery processing highest in three months
U.S. to sell up to 20 mln barrels of SPR oil
U.S. crude inventories expected to drop for 3rd week
BUY CRUDEOIL SEP 2021 @ 4860 SL 4800 TGT 4920-4950.MCX
NATURAL GAS
Natural gas trading range for the day is 284.2-296.8.
Natural gas remained in range as forecasts for lower demand this week offset an outlook calling for the hot weather
Last week, gas speculators boosted their short positions in natural gas futures and options on NYMEX to the highest since June 2020.
Data provider Refinitiv said gas output in the U.S. Lower 48 states rose to an average of 92.1 bcfd so far in August from 91.6 bcfd in July.
U.S. pipeline exports to Mexico have slipped to an average of 6.1 bcfd so far in August from 6.6 bcfd in July and a record 6.7 bcfd in June.
BUY NAT GAS AUG 2021 @ 288.00 SL 282.00 TGT 295.00-298.00.MCX
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