Buy Natural Gas AUG @ 257 SL 253 TGT 261-264. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL AUG @ 7850 SL 7950 TGT 7700-7600. MCX
Observations
Crudeoil trading range for the day is 7496-8110.
Crude oil prices fell as forecasters lowered global oil demand projections for 2026.
OPEC lowered its world oil demand growth forecast for 2026 to 580,000 barrels per day in its monthly oil market report.
IEA said it expects a 1.6 million bpd contraction in consumption this year, down from a forecast of 1 million bpd last month
U.S. commercial crude oil inventories, posted their largest weekly gain since January 2023 last week as exports slumped.
NATURALGAS
BUY NATURALGAS AUG @ 257 SL 253 TGT 261-264. MCX
Observations
Naturalgas trading range for the day is 254.5-270.7.
Natural gas fell as strong production and ample inventories outweighed continued weather-driven demand.
Agency lowers August LNG export forecast slightly because of Freeport LNG plant maintenance
EIA projects October gas inventories reaching 3.985 trillion cubic feet, highest level since 2016
August 2026 demand view was trimmed to 92.0 bcfd from July's 92.1 bcfd
