IGI Logo

CRUDE OIL

Observations

Crudeoil trading range for the day is 6193-6423.

Crude oil dropped amid worries about demand in China

China's leaders vow to boost policy support for economy

US crude and fuel stockpiles expected to fall in latest report

OPEC+ panel meets on Thursday, no policy tweaks expected CRUDEOIL SEP-AUG -52.00

BUY CRUDEOIL AUG @ 6260 SL 6180 TGT 6340-6400. MCX

NATURAL GAS

Observations

Naturalgas trading range for the day is 163.3-187.1.

Natural gas jumped on forecasts for record-breaking heat later this week.

That price increase came despite a rise in output

The amount of gas flowing to Freeport LNG in Texas was on track to reach a preliminary 14-month high.

There was currently about 17% more gas in storage than normal for this time of year.

BUY NATURALGAS AUG @ 175 SL 172 TGT 180-183. MCX