Buy Natural GasOCT @ 252 SL 247 TGT 260-265. MCX - Kedia Advisory
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CRUDE OIL
Observations
Crudeoil trading range for the day is 7128-7618.
Crude oil rose as the risk of escalating conflict in the Middle East threatened to disrupt oil supplies
Crude oil inventories in the US fell by 4.491 million barrels in the week ending October 13, 2023 Iran calls for oil embargo on Israel, OPEC+ plans no immediate action
Saudi Arabia's crude exports drop to 28-month low in August
BUY CRUDEOIL OCT @ 7280 SL 7180 TGT 7380-8480. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 248.2-267.2.
Natural gas climbed with the amount of gas flowing to LNG export plants back near record highs
Support also seen amid forecasts for cooler weather and higher heating demand over the next two weeks than previously expected.
Average gas output in the Lower 48 U.S. states rose to an average of 103.6 bcfd so far in October
LSEG forecast U.S. gas demand, including exports, would hold near 97.7 bcfd this week and next.
BUY NATURALGAS OCT @ 252 SL 247 TGT 260-265. MCX
