Sell Crudeoil Oct 2022 @ 7000 SL 7150 TGT 6800-6700.MCX - Kedia Advisory
CRUDEOIL
Crude oil trading range for the day is 6458-7014.
Crude oil edges up as supply woes outweigh demand and rate hike worries
Oil also came under pressure from hopes of an easing of Europe's gas supply crisis.
OPEC+ fell 3.58 mln b/d short of August quota
Saudi Arabia's crude oil exports rise to 7.38 mln bpd in July
SELL CRUDEOIL OCT 2022 @ 7000 SL 7150 TGT 6800-6700.MCX
NATURAL GAS
Natural gas trading range for the day is 574.8-653.6.
Natural gas extended their decline as US railroads and labor unions reached an agreement to avert a rail shutdown.
Data from the EIA pointed to 77 billion cubic feet of gas being added to storage by utilities in the week
Domestic supply is set to rise as the Cove Point LNG plant in Maryland is set to shut down for maintenance in October
U.S. gas demand has already been reduced for months by the ongoing outage at the Freeport LNG export plant in Texas
BUY NAT GAS SEP 2022 @ 610.00 SL 580.00 TGT 645.00-660.00.MCX
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