Buy Crudeoil OCT @ 7500 SL 7400 TGT 7600-7700. MCX - Kedia Advisory
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Crudeoil
Crudeoil trading range for the day is 7279-7689.
Crude oil gains amid expectations of tighter supply for the rest of this year.
Oil supply remains tight as Russia and Saudi Arabia have extended production cuts to the end of the year.
Speculators raise U.S. crude oil net longs – CFTC
US crude stocks at Cushing storage hub fall to lowest since July 2022 – EIA
BUY CRUDEOIL OCT @ 7500 SL 7400 TGT 7600-7700. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 230-245.2.
Natural gas dropped amid less gas flowing to the LNG export plants.
Gas production in the US eased to 102.11 bcfd in September, down from the August record of 102.3 bcfd.
Romania's natgas reserves nearly 95% filled
Meteorologists forecast the weather in the Lower 48 states would remain warmer than usual for the next 15 days.
BUY NATURALGAS OCT @ 234 SL 228 TGT 240-245. MCX
