Buy Natural Gas AUG @ 255 SL 252 TGT 259-262. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL AUG @ 7350 SL 7250 TGT 7500-7600. MCX
Observations
Crudeoil trading range for the day is 7175-7633.
Crude oil prices edged higher on further concerns surrounding the reopening of the Strait of Hormuz .
Iran is seeking fees of between 5% and 7% of the price of cargoes from ships using the strait.
U.S. President Donald Trump told reporters that he believed that the war would be over soon.
U.S. crude oil output fell about 2% in May from a record in April, while exports hit a record high for the second-consecutive month.
NATURALGAS
BUY NATURALGAS AUG @ 255 SL 252 TGT 259-262. MCX
Observations
Naturalgas trading range for the day is 248.9-260.3.
Natural gas gained on a small rise in flows to liquefied natural gas export plants in recent days.
EIA says utilities add 33 bcf of gas to storage in week ended July 31 Feedgas to major
LNG plants fell from July and stayed well below April's peak Stockpiles stood 6.7% above the five-year average despite persistent summer heat
