Crudeoil trading range for the day is 6700-6900 - Kedia Advisory
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Crude Oil
Observations
Crudeoil trading range for the day is 6700-6900
Crude oil dips on profit booking after Saudi Arabia, Russia extend supply cuts.
Saudi Arabia, Russia extend supply cuts
Supply risks could rise as Russia-Ukraine tensions heighten
Investors cautious ahead of China, US inflation data this week
SELL CRUDEOIL Aug 2023 @ 6880 SL 6980 TGT 6780-6680. MCX
Natural Gas
Observations
Naturalgas trading range for the day is 208.3-237.9
Natural gas gained on forecasts for the weather to remain hotter
Average gas output in the U.S. Lower 48 states held at 101.8 billion cubic feet per day (bcfd) so far in August
U.S. natural gas exports to Mexico hit monthly record in June – EIA
Meteorologists forecast the weather in the Lower 48 states will remain hotter than normal through at least Aug. 19.
BUY NAT GAS Aug 2023 @ 222 SL 216 TGT 230-235. NCDEX
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