Buy Crudeoil Oct @ 6350 SL 6250 TGT 6450-6550. MCX - Kedia Advisory
CRUDE OIL
Observations
Crudeoil trading range for the day is 6096-6552.
Crude oil prices rose underpinned by a spike in fuel demand as a hurricane barrelled into Florida
EIA's US crude inventories show higher than expected build
The U.S. Energy Information Administration on downgraded its demand forecast for 2025
Investors remain wary of Iran-Israel escalation
BUY CRUDEOIL OCT @ 6350 SL 6250 TGT 6450-6550. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 214.2-232.
Natural gas edged up on forecasts for higher demand with an increase in gas flowing to LNG export plants.
US utilities added 82 billion cubic feet of gas into storage.
The increase lifted the total amount of natural gas storage in the lower 48 states to 3.629 tcf.
Average gas output in the Lower 48 U.S. states fell to 101.2 bcfd so far in October, down from 101.8 bcfd in September.
BUY NATURALGAS OCT @ 222 SL 217 TGT 227-232. MCX
