Buy Crudeoil OCT @ 6850 SL 6750 TGT 6950-7050. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6750-7000.
Crude oil dropped due to concerns about weakening global demand, despite tight supply worries
Russia allowed diesel fuel exports via ports again after a recent ban, but gasoline exports remained restricted.
EIA data showed that US gasoline stocks surged, and gasoline demand hit a 1998 low
OPEC+ maintained their existing oil output policy, extending voluntary supply cuts through the end of the year
BUY CRUDEOIL OCT @ 6850 SL 6750 TGT 6950-7050. MCX
Natural gas
Observations
Naturalgas trading range for the day is 259.4-285.
Natural gas climbed on lower output, rising exports
Workers at U.S. energy firm Chevron's two liquefied natural gas (LNG) export plants in Western Australia voted to restart strikes
Natural gas demand is projected to scale a new record this winter
U.S. natural gas storage is on track to end the April-October summer injection season at 3.847 tcf on Oct. 31
BUY NATURALGAS OCT @ 270 SL 265 TGT 276-282. MCX
