Buy Natural Gas Jul 2023 @ 202 SL 197 TGT 208-212. NCDEX - Kedia Advisory
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Crude Oil
Observations
Crudeoil trading range for the day is 5890-6340
Crudeoil fell as China's weak economic growth raised demand worries.
Saudi Arabia will extend its voluntary cut until the end of December 2024
Citi sees 2023 global oil markets flipping into a modest deficit of 0.1-m b/d from an early surplus of 0.1-m b/d
Citi revises global oil demand growth for 2023 from 1.6-m b/d to over 1.8-m b/d
SELL CRUDEOIL Jul 2023 @ 6150 SL 6250 TGT 6050-5950. MCX
Natural Gas.
Observations
Naturalgas trading range for the day is 200.8-215.8
Natural gas gains on low level buying amid expectations of higher cooling demand.
Gas flowing to US LNG export plants is still well below record levels of 14.0 bcfd recorded in April
Gas output has been on the rise and is on track to top the monthly record high of 102.0 bcfd in May.
Meteorologists are predicting temperatures above normal until July 29, which will drive up the usage of natural gas
BUY NAT GAS Jul 2023 @ 202 SL 197 TGT 208-212. NCDEX
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