Buy Naturalgas Aug @ 166 SL 162 TGT 172-176. MCX - Kedia Advisory
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CRUDE OIL
Observations
Crudeoil trading range for the day is 6007-6327.
Crude oil gains amid fears of an escalation in the Middle East conflict, and a drop in Libyan production.
Fear of wider Middle East conflict spurs buying
US passes message to Iran not to escalate
Financial markets recover after strong US services sector data CRUDEOIL SEP-AUG -60.00
BUY CRUDEOIL AUG @ 6140 SL 6060 TGT 6240-630. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 156.5-178.1.
Natural gas climbed as the amount of gas flowing to LNG export plants rises.
Support also seen on forecasts for near record-breaking heat over the next few days.
The number of rigs drilling for natural gas in the United States fell by 3 to 98.
Gas output in the Lower 48 states rose to an average of 103.8 billion cubic feet per day (bcfd) so far in August
BUY NATURALGAS AUG @ 166 SL 162 TGT 172-176. MCX
