Sell Nat Gas Sep 2021 @ 398.00 SL 410.00 TGT 384.00-378.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5233-5419.
Crude oil gained as support seen after data showing a drop in U.S. crude inventories supported oil prices
IEA and OPEC see 100 million bpd of oil demand within months
Libya's NOC says Es Sider and Ras Lanuf oil blockades have ended
U.S. crude inventories fell by a bigger than expected 6.4 million barrels last week
BUY CRUDEOIL SEP 2021 @ 5320 SL 5240 TGT 5400-5450.MCX
NATURAL GAS
Natural gas trading range for the day is 367.8-423.2.
Natural gas slipped pressured by a larger-than-expected storage build last week and forecasts for slightly lower demand through next week.
The U.S. Energy Information Administration (EIA) said utilities added 83 billion cubic feet (bcf) of gas into storage during the week ended Sept. 10.
Last week's injection boosted stockpiles to 3.006 trillion cubic feet (tcf), or 7.1% below the five-year average of 3.237 tcf for this time of year.
That means U.S. utilities have stored less gas than normal for the winter heating season when demand for the fuel peaks.
SELL NAT GAS SEP 2021 @ 398.00 SL 410.00 TGT 384.00-378.00.MCX
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