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CRUDEOIL

Observation

Crudeoil trading range for the day is 5828-6378.

Crude oil prices rose amid concern that a widening Middle East conflict could disrupt crude oil flows.

Kazakhstan will issue its largest oil-output cuts under the OPEC+ agreement in October.

OPEC+ capacity could cushion Iranian supply shock Libya's NOC lifts force majeure at oilfields and terminals

BUY CRUDEOIL OCT @ 6120 SL 6020 TGT 6220-6300. MCX

NATURAL GAS

Observation

Naturalgas trading range for the day is 241.1-255.3.

Natural gas gained following smaller-than-expected storage injections and forecasts for higher demand.

US utilities added 55 billion cubic feet of gas into storage Last week's increase raised stockpiles to 3,547 Bcf, 127 Bcf higher than last year at this time

Gas output in the Lower 48 U.S. states has fallen to an average of 101.0 bcfd so far in October

SELL NATURALGAS OCT @ 252 SL 256 TGT 247-242. MCX