BUY CRUDEOIL OCT @ 8500 SL 8400 TGT 8600-8700. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL OCT @ 8500 SL 8400 TGT 8600-8700. MCX
Observations
Crudeoil trading range for the day is 8345-8927.
Crude oil prices settled lower after IEA agreed to speed up a release of oil stocks
Houthi strikes on Aden airport intensify fears over regional supply disruption
UBS bank forecasts Brent crude at $100 per barrel in Q4 2026, up from about $80 per barrel previously
Natural Gas
BUY NATURALGAS OCT @ 308 SL 304 TGT 312-316. MCX
Observations
Naturalgas trading range for the day is 297-322.
Natural gas prices climbed supported by falling production, LNG feedgas flows, and expectations of more demand.
Average gas output fell to 111.7 bcfd so far in October, down from record highs of 113.3 bcfd in both August and September.
EIA projected dry gas production will rise from a record 107.6 bcfd in 2025 to 112.2 bcfd in 2026 and 116.1 bcfd in 2027.
Average US liquefied natural gas exports would rise from a record 15.1 bcfd in 2025 to 17.6 bcfd in 2026 and 18.6 bcfd in 2027.
