Buy Natural Gas SEP @ 276 SL 272 TGT 280-284. MCX - Kedia Advisory
CRUDE OIL
BUY CRUDEOIL SEP @ 8500 SL 8400 TGT 8600-8700. MCX
Observations
Crudeoil trading range for the day is 8227-8871.
Crude oil dropped on profit booking after prices gained as tensions between the US and Iran continued to drive market sentiment.
Citi said it raised its mark-to-market Brent average forecast for the third quarter of 2026 to $86 a barrel from $80 a barrel previously.
US Vance said that Washington does not plan to hold talks with Tehran unless Iran stops attacking commercial shipping in Hormuz.
US Wright said that he thinks Venezuela will produce more than 1.5 million barrels of oil per day by the first half of next year.
NATURAL GAS
BUY NATURAL GAS SEP @ 276 SL 272 TGT 280-284. MCX
Observations
Naturalgas trading range for the day is 272.2-286.6.
Natural gas rose as unseasonably warm weather boosted cooling demand.
The European Union's natural gas storage currently stands at around 65% of its capacity.
EIA said energy firms added 30 billion cubic feet of gas to storage during the week ended August 28.
Average gas output in the U.S. Lower 48 states rose to 112.9 billion cubic feet per day (bcfd) so far in September
