Buy Crudeoil Aug @ 5670 SL 5590 TGT 5860-5920. MCX - Kedia Advisory
Crude oil
BUY CRUDEOIL AUG @ 5670 SL 5590 TGT 5860-5920. MCX
Observations
Crudeoil trading range for the day is 5568-5938.
Crude oil prices rebounded supported by concerns over potential supply disruptions.
Trump is to impose an additional 25% tariff on goods from India due to Russian oil purchases
Crude inventories fell by 3 million barrels to 423.7 million barrels in the week ended August 1, the EIA said.
API data showed US crude stockpiles fell by 4.2 million barrels last week.
Naturalgas
BUY NATURALGAS AUG @ 266 SL 260 TGT 272-278. MCX
Observations
Naturalgas trading range for the day is 254.7-279.3.
Natural gas climbed lifted by a drop in daily output, rising gas flows to LNG export plants.
Daily output drops to three-week low, impacting supply
LNG export feedgas increases after plant outages end
Gas stockpiles 7% above normal, expected to grow further NATURALGAS SEP-AUG 9.50
