Buy Natural Gas SEP @ 274 SL 271 TGT 278-281. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL SEP @ 9700 SL 9600 TGT 9850-9950. MCX
Observations
Crudeoil trading range for the day is 9479-10265.
Crude oil fell as reports that Saudi Arabia was offering additional crude cargoes via Oman eased concerns.
Saudi Arabia is offering more loadings of crude oil to Asian refiners via ship-to-ship transfer off Oman's Sohar port.
U.S. crude oil, gasoline and distillate inventories all rose last week, citing data from the American Petroleum Institute. U
.S. domestic crude oil production rose about 85,000 barrels per day to a record high of 13.95 million bpd in the week ended September 4
NATURALGAS
BUY NATURALGAS SEP @ 274 SL 271 TGT 278-281. MCX
Observations
Naturalgas trading range for the day is 272-288.8.
Natural gas slid on near-record output, ample amounts of fuel in storage
Equinor says it expects EU gas inventories to reach around 75% of capacity by November
Average output across the Lower 48 states was expected to fall to a two-month low of 108.4 bcfd
Despite record production and mild spring weather keeping inventories above the five-year average since March, the surplus has continued to narrow.
