Buy Crudeoil Jul @ 5850 SL 5750 TGT 5950-6050. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL JUL @ 5850 SL 5750 TGT 5950-6050. MCX
Observations
Crudeoil trading range for the day is 5656-6002.
Crude oil rose as traders balanced tight prompt supply against IEA’s large surplus forecast.
Russia’s Novak confirmed plans to offset overproduction by August–September to meet OPEC+ quota.
IEA describes tight market despite flagging surplus for 2025 IEA boosts 2025 oil supply forecast after latest OPEC+ hike
NATURALGAS
BUY NATURALGAS JUL @ 282 SL 277 TGT 288-292. MCX
Observations
Naturalgas trading range for the day is 278.9-296.9.
Natural gas climbed after a smaller-than-expected storage build signaled tighter supply than anticipated
The U.S. EIA said energy firms added 53 billion cubic feet of gas into storage during the week ended July 4.
Rising gas flows to US LNG export plants supported prices amid recovering liquefaction operations.
Meteorologists expect warmer-than-normal weather through July 25, boosting cooling and gas-fired power demand.
