Sell Crudeoil Aug 2022 @ 7600 SL 7750 TGT 7380-7200.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7193-7749.
Crude oil prices recovered from lows with traders weighing demand and supply prospects and looking ahead to the meeting of the OPEC+.
Saudi Arabia will push OPEC+ to increase oil production at the meeting.
Flagging global demand and China's strict COVID-19 restrictions slowed production.
U.S. targets Chinese, UAE firms in new Iran oil sanctions
SELL CRUDEOIL AUG 2022 @ 7600 SL 7750 TGT 7380-7200.MCX
NATURAL GAS
Natural gas trading range for the day is 574.6-666.6.
Natural gas dropped pressured by record levels of output as domestic producers have been taking advantage of higher prices.
Russia has already halted shipments to Demark, Finland, Bulgaria, the Netherlands, and Poland and reduced supplies to Germany
The United States became the world's top LNG exporter during the first half of 2022.
Average gas output in the U.S. Lower 48 states rose to 97.4 bcfd so far in August from a record 96.7 bcfd in July.
BUY NAT GAS AUG 2022 @ 600.00 SL 580.00 TGT 630.00-650.00.MCX
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