Buy Crudeoil Aug @ 5580 SL 5520 TGT 5660-5720. MCX - Kedia Advisory
Crude oil
BUY CRUDEOIL AUG @ 5580 SL 5520 TGT 5660-5720. MCX
Observations
Crudeoil trading range for the day is 5504-5774.
Crude oil fell as Putin-Trump talks raised hopes of diplomacy.
China’s July crude imports dropped 5.4% from June levels.
OPEC+ agreed to raise oil production by 547,000 barrels per day for September.
Saudi Arabia hiked September crude prices for Asia amid tight supply
Naturalgas
BUY NATURALGAS AUG @ 266 SL 260 TGT 272-278. MCX
Observations
Naturalgas trading range for the day is 260.6-279.6.
Natural gas dropped as loss of weather-driven demand outweighs the boost from a below-estimate inventory build.
Extreme heat last week boosted gas demand for air conditioning
US gas output at near-record levels so far in August
Near-record gas flows to LNG export plants support prices NATURALGAS SEP-AUG 9.40
