Sell Crude oil Aug 2022 @ 8000 SL 8150 TGT 7800-7650.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7377-8175.
Crude oil prices fell after higher U.S. gasoline stockpiles and and returning oil supply from Libya eased supply concerns.
Libya's NOC restarts output at several oilfields
U.S. SPR crude stockpiles hit lowest since July 1985, crude output down again – EIA
Crude inventories fell by 446,000 barrels in the week to July 15 to 426.6 million barrels
SELL CRUDEOIL AUG 2022 @ 8000 SL 8150 TGT 7800-7650.MCX
NATURAL GAS
Natural gas trading range for the day is 587.7-678.1.
Natural gas gained as signs of stronger-than-expected demand more than offset fading fears over an energy crisis in Europe.
The EIA’s weekly inventory report showed utilities injected just 34 billion cubic feet (bcf) of natural gas into underground storage last week
Average gas output in the U.S. Lower 48 states rose to 96.1 bcfd so far in July from 95.3 bcfd in June.
Gazprom resumed flows via the Nord Stream 1 pipeline that supplies more than a third of Russian gas exports to the European Union.
SELL NAT GAS JUL 2022 @ 645.00 SL 665.00 TGT 615.00-600.00.MCX
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