Naturalgas trading range for the day is 198.8-216.8 - Kedia Advisory
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Crude Oil
Observations
Crudeoil trading range for the day is 6390-6870
Crude oil prices eased amid concerns about the Chinese economy
US crude oil inventories went down by 17.049 million barrels - EIA
Crude stocks at the Cushing, Oklahoma, delivery hub declined by 1.259 million barrels
US crude oil inventories drop sharply: API
SELL CRUDEOIL Aug 2023 @ 6620 SL 6700 TGT 6520-6420. MCX
Natural Gas
Observations
Naturalgas trading range for the day is 198.8-216.8
Natural gas dropped weighed down by forecasts for lower demand.
The price drop came despite forecasts for hotter than normal weather continuing through mid-August, especially in Texas.
Average gas output in the Lower 48 states rose to 101.7 bcfd in July, up from 101.0 bcfd in June
Meteorologists forecast the weather in the Lower 48 states will remain mostly hotter than normal through at least Aug. 16
BUY NAT GAS Aug 2023 @ 202 SL 197 TGT 208-212. NCDEX
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