Sell Crudeoil Oct 2022 @ 7450 SL 7600 TGT 7280-7200.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6982-7554.
Crude oil rose as low levels of diesel inventory ahead of winter helped investors shrug off higher-than-expected stocks of crude
Crude inventories rose by 9.9 million barrels in the last week to 439.1 million barrels
OPEC slashed its global oil demand growth forecasts for 2022 and 2023 by 460,000 and 360,000 barrels per day, respectively
OPEC+ oil supply cuts could tip world into recession, IEA says
SELL CRUDEOIL OCT 2022 @ 7450 SL 7600 TGT 7280-7200.MCX
NATURAL GAS
Natural gas trading range for the day is 515.8-573.4.
Natural gas gained as forecasts for colder weather that should boost heating demand over the next two weeks.
The U.S. Energy Information Administration (EIA) said utilities added 125 billion cubic feet (bcf) of gas to storage during the week ended Oct. 7
Wind power produced about 9% of the nation's electricity last week, up from as little as 6% a few weeks earlier, according to federal energy data
Data provider Refinitiv said average gas output in the U.S. Lower 48 states has risen to 99.9 bcfd so far in October, up from a monthly record of 99.4 bcfd in September.
BUY NAT GAS OCT 2022 @ 530.00 SL 515.00 TGT 550.00-565.00.MCX
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