Sell Nat Gas Aug 2022 @ 760.00 Sl 790.00 Tgt 725.00-710.00 Mcx - Kedia Advisory
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CRUDEOIL
* Crude oil trading range for the day is 7327-7719.
* Crude oil remained supported as concerns about tight supplies continued to hang over the market
* Kuwait's oil minister says country has increased oil production to 2.811 mln bpd in line with OPEC+
* Saudi Energy Minister said OPEC+ could cut oil production to correct imbalances.
* OPEC+ may be inclined to cut oil output if and when Iranian production returns
SELL CRUDEOIL SEP 2022 @ 7650 SL 7800 TGT 7400-7250.MCX
NATURAL GAS
* Natural gas trading range for the day is 714.1-769.1.
* Natural gas rose as focus returned to forecasts for more demand for the fuel to cool homes and business amid warmer-than-normal weather.
* Norway eyes high gas output until 2030, says energy minister
* Freeport LNG Development: Initial production is expected to begin in early to midNovember, with a sustained level of at least 2 BCF per day by November
* Freeport LNG Development: We expect to be able to operate at 100% capacity by March 2023.
SELL NAT GAS AUG 2022 @ 760.00 SL 790.00 TGT 725.00-710.00 MCX
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