Crudeoil trading range for the day is 6460-6670 - Kedia Advisory
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Crude Oil
Observations
Crudeoil trading range for the day is 6460-6670
Crude oil gains on signs of tight supply, China stimulus hopes
Demand worries also eased after a slew of U.S. economic data pointed to a resilient economy.
China stimulus hopes spurred expectations of oil demand regeneration from the world's largest importer of crude oil
Russian '23 oil output forecast at 515 million tonnes – minister
SELL CRUDEOIL Aug 2023 @ 6650 SL 6750 TGT 6550-6450. MCX
Natural Gas
Observations
Naturalgas trading range for the day is 206.9-226.1
Natural gas gained on forecasts for more demand
Average gas output in the Lower 48 states rose to 101.5 bcfd so far in July, up from 101.0 bcfd in June
Meteorologists forecast will be the hottest day of the summer so far in the U.S. Lower 48 states and the second hottest on record
Russian '23 gas output to decline to 657 bcm – minister
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