Buy NaturalGas Aug @ 162 SL 158 TGT 166-169. MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
CRUDE OIL
Observations
Crudeoil trading range for the day is 5900-6604.
Crude oil fell as global oil demand concerns outweighed supply risks from rising geopolitical tensions in the Middle East.
Asia's crude oil imports in July fell to their lowest in two years, sapped by weak demand in China and India.
OPEC+ meeting left the group's oil output policy unchanged, including a plan to start unwinding one layer of production cuts from October.
OPEC oil output rises in July on Saudi rebound
SELL CRUDEOIL AUG @ 6180 SL 6250 TGT 6110-6060. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 157.4-173.8.
Natural gas fell on rising output and forecasts for less demand next week than previously expected.
Prices fell despite a bullish smaller-than-expected weekly storage build
Gas output in the Lower 48 states rose to an average of 103.8 bcfd so far in August, up from 103.4 bcfd in July.
US utilities added 18 billion feet of gas into storage to 3,249 billion cubic feet.
BUY NATURALGAS AUG @ 162 SL 158 TGT 166-169. MCX
