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CRUDEOIL

Observation

Crudeoil trading range for the day is 5452-5838.

Crude oil gains amid concern about disruptions to U.S. output from Hurricane Francine.

Crude oil inventories in the US rose by 0.833 million barrels Gasoline stocks increased by 2.311 million, against forecasts of a 0.1 million fall.

China's crude oil imports in August fell 7% year-on-year, customs data showed

BUY CRUDEOIL SEP @ 5650 SL 5550 TGT 5750-5850. MCX

NATURAL GAS

Observation

 Naturalgas trading range for the day is 182.1-200.5.

Natural gas gains as producers cut output for Hurricane Francine

Prices rose even though Francine was expected to cut gas demand by curtailing flows to Gulf Coast LNG export plants

Gas output in the Lower 48 U.S. states slid to an average of 102.1 billion cubic feet per day (bcfd) so far in September

U.S. natural gas production will decline in 2024 while demand will rise to a record high

BUY NATURALGAS SEP @ 188 SL 184 TGT 193-197. MCX