Buy CrudeOil Sep @ 9650 SL 9550 TGT 9800-9900. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL SEP @ 9650 SL 9550 TGT 9800-9900. MCX
Observations
Crudeoil trading range for the day is 9404-10200.
Crude oil jumped on concerns that energy supplies from the Persian Gulf would be further diminished by a drone attack.
East-West pipeline shutdown threatens up to 4% of global oil supply
Gulf-Iran meeting on Strait of Hormuz postponed, Oman says
Bab el-Mandeb risks grow after Houthis reach Perim Island
Natural Gas
SELL NATURALGAS SEP @ 279 SL 282 TGT 276-274. MCX
Observations
Naturalgas trading range for the day is 268.1-285.1.
Natural gas climbed on a drop in daily output, an increase in daily liquefied natural gas exports and a jump in oil futures.
Cove Point maintenance from around Sept. 19 could curb exports by 0.8 bcfd
Lower 48 output hit a monthly record in August before slipping to a two-week low
Warmer-than-normal weather through Sept. 29 should keep air-conditioning gas burn elevated
