Buy Crude Oil OCT @ 8800 SL 8700 TGT 9000-9100. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL OCT @ 8800 SL 8700 TGT 9000-9100. MCX
Observations
Crudeoil trading range for the day is 8625-9161.
Crude oil prices fell as markets weighed the possibility of a truce between the US and Iran.
Iranian President Masoud Pezeshkian said it was up to the US to choose when the Iran war will end.
BOFA raised its Brent crude oil price forecast for the second half of 2026 to $95 a barrel from $83
Libya's NOC said that the Sharara-Zawiya crude loading pipeline closure has led to daily losses of about 130,000 barrels per day.
NATURAL GAS
SELL NATURALGAS OCT @ 312 SL 316 TGT 308-305. MCX
Observations
Naturalgas trading range for the day is 297.2-325.8.
Natural gas fell on profit booking after prices rallied amid supply disruptions in West Virginia.
TC Energy’s Columbia Gas Transmission pipeline in Appalachia declared force majeure due to an unexpected mechanical issue.
EIA data showed inventories rose by 53 Bcf for the week ended September 18.
Average gas output rose to 112.5 bcfd so far in September, up from a monthly record high of 112.3 bcfd in August
