Buy Naturalgas Aug @ 183 SL 178 TGT 188-192. MCX - Kedia Advisory
CRUDE OIL
Observations
Crudeoil trading range for the day is 6052-6434.
Crude oil dropped as concern over demand in China weighed on market sentiment.
Chinese refineries sharply cut crude processing rates last month on tepid fuel demand.
IEA trimmed its global oil demand growth 2025 estimate, citing the impact of Chinese consumption.
Speculators raise U.S. crude oil net longs – CFTC
BUY CRUDEOIL SEP @ 6150 SL 6050 TGT 6250-6350. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 173-195.2.
Natural gas traded higher as hot forecasts raise expectations for cooling demand.
EIA reported stocks fell by six-billion cubic feet, leaving inventories at 3.26-trillion cubic feet
The number of rigs drilling for natural gas in the United States rose by 1 this week to 98
LSEG forecast average gas demand to rise from 104.4 bcfd this week to 106.5 bcfd next week.
BUY NATURALGAS AUG @ 183 SL 178 TGT 188-192. MCX
