Sell Nat Gas Sep 2021 @ 356.00 SL 364.00 TGT 348.00-344.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5174-5418.
Crude oil gained buoyed by data showing a drop in U.S. crude stockpiles last week due to the impact of recent storms.
U.S. crude stocks drop to lowest since Oct 2018 – EIA OPEC+ struggles to pump more oil to meet rising demand
Nigeria sees 2022 oil production of 1.88 mln bpd
BUY CRUDEOIL OCT 2021 @ 5200 SL 5120 TGT 5180-5240.MCX
NATURAL GAS
Natural gas trading range for the day is 348.6-366.
Natural gas rose amid continued strong interest in U.S. liquefied natural gas exports from soaring global gas prices
However upside seen limited on growing expectations the United States will have enough gas in storage for the upcoming winter heating season.
U.S. gas stockpiles were about 7.1% below their five-year normal for this time of year.
Refinitiv projected that average U.S. gas demand, including exports, would fall from 86.2 bcfd this week to 83.1 bcfd next week
SELL NAT GAS SEP 2021 @ 356.00 SL 364.00 TGT 348.00-344.00.MCX
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