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CRUDEOIL

Crude oil trading range for the day is 7185-7633.

Crude oil fell as talk of a hefty ECB rate hike stoked demand worries.

US SPR crude stocks fall to lowest since Jan 1985 – EIA

U.S. crude exports hit record high last week – EIAUBS sees $125 oil in the ’coming months

SELL CRUDEOIL SEP 2022 @ 7550 SL 7700 TGT 7350-7250.MCX

NATURAL GAS

Natural gas trading range for the day is 717.5-782.7.

Natural gas rose on higher European prices as concerns persisted around supply.

EIA reported an injection of 60 billion cubic feet (bcf) of gas to storage during the week ended Aug. 19

The Freeport outage was, meanwhile, also seen limiting potential U.S. supply to Europe heading into winter.

Expectations of increased demand for US LNG exports amid growing concerns of European shortages added to the bullish tone.

SELL NAT GAS SEP 2022 @ 760.00 SL 790.00 TGT 725.00-710.00.MCX

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