Sell Crude Oil Sep 2021 @ 5050 SL 5120 TGT 4970-4920.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4838-5140.
Crude oil prices dropped as OPEC+ deal removed oil excess, now key to keep market in balance
Global oil demand is seen growing by 5.8-6 million barrels per day this year, Novak told, adding he saw the global oil market fully restored next year.
U.S. crude stocks and distillate inventories fell while gasoline inventories rose, the Energy Information Administration said
U.S. gasoline stocks rose by 1.3 million barrels in the week to 227.2 million barrels, the EIA said
SELL CRUDEOIL SEP 2021 @ 5050 SL 5120 TGT 4970-4920.MCX
NATURAL GAS
Natural gas trading range for the day is 310.6-359.
Natural gas climbed as key production facilities in the U.S. Gulf of Mexico remained offline while energy firms assessed the aftermath of Hurricane Ida.
A total of 1.705 million barrels per day of oil production and 2.107 billion cubic feet per day (bcfd) of natural gas output remain shut
U.S. production is forecast to dip to 89.4 billion cubic feet per day (bcfd) this week from 92.5 bcfd last week
U.S. production is forecast to dip to 89.4 billion cubic feet per day (bcfd) this week from 92.5 bcfd last week
BUY NAT GAS SEP 2021 @ 310.00 SL 302.00 TGT 320.00-326.00.MCX
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