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CRUDEOIL

BUY CRUDEOIL SEP @ 5570 SL 5500 TGT 5670-5850. MCX

Observations

Crudeoil trading range for the day is 5511-5703.

Crude oil gains driven by concerns of potential supply disruptions amid rising Middle East tensions.

Crude inventories rose by 3.9 million barrels to 424.6 million barrels in the week ended September 5, the EIA said.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 365,000 barrels in the week, the EIA said.

U.S. gasoline stocks rose by 1.5 million barrels in the week to 220 million barrels, the EIA said.

NATURALGAS

BUY NATURALGAS SEP @ 265 SL 260 TGT 270-275. MCX

Observations

Naturalgas trading range for the day is 260.2-278.8.

Natural gas prices fell on near-record output, ample supplies of gas in storage.

Pressure also seen amid a small decline in flows to LNG export plants, and forecasts for milder weather.

U.S. natural gas output and demand will both rise to record highs in 2025 before sliding in 2026 – EIA

Meteorologists forecast the weather will remain warmer than normal through at least September 24