Sell Crudeoil Sep 2022 @ 7600 Sl 7750 Tgt 7350-7200.Mcx0.- Kedia Advisory
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CRUDEOIL
* Crude oil trading range for the day is 7297-7745.
* Crude oil prices fell with traders weighing the prospects for the return of Iranian oil to the market
* Falling U.S. crude and product stockpiles added to the upward price momentum.
* Oil inventories fell by 3.3 million barrels in the week to Aug. 19 to 421.7 million barrels
* US SPR crude stocks fall to lowest since Jan 1985 – EIA
SELL CRUDEOIL SEP 2022 @ 7600 SL 7750 TGT 7350-7200.MCX
NATURAL GAS
* Natural gas trading range for the day is 722.1-761.5.
* Natural gas rose buoyed by elevated global gas prices which offset limited pressure from a delay in the restart of the Freeport export hub.
* Freeport LNG announced that it would delay the restart of its Quintana export plant to November, backtracking previous statements of an October restart.
* Russia's Gazprom said it would halt flows through the Nord Stream 1 pipeline to Europe for three days of maintenance at the end of August.
* Norway eyes high gas output until 2030, says energy minister
SELL NAT GAS SEP 2022 @ 760.00 SL 790.00 TGT 725.00-710.00.MCX
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