Buy Natural Gas OCT @ 298 SL 294 TGT 302-306. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL OCT @ 8850 SL 8750 TGT 9050-9150. MCX
Observations
Crudeoil trading range for the day is 8460-9518.
Crude oil rebounded after US President Trump rejects peace deal from Iran
Yemen's Saudi-led coalition intercepts missiles, drones launch by Houthis
Mideast crude exports rebound in September as Hormuz flows rise
WTI crude oil speculative net longs increased by 8,952 contracts to 148,467
NATURALGAS
BUY NATURALGAS OCT @ 298 SL 294 TGT 302-306. MCX
Observations
Naturalgas trading range for the day is 294.7-308.9.
Natural gas fell on expectations daily output will soon rise with the return to service of the Mountaineer XPress pipe in West Virginia
Average gas output in the US Lower 48 states rose to 112.3 billion cubic feet per day (bcfd) so far in September.
EIA data showed inventories rose by 53 Bcf for the week ended September 18.
TC Energy’s Columbia Gas Transmission pipeline in Appalachia declared force majeure due to an unexpected mechanical issue.
