Buy Naturalgas Aug @ 258 SL 254 TGT 262-265. MCX -Kedia Advisory
Crudeoil
BUY CRUDEOIL AUG @ 7600 SL 7500 TGT 7750-7900. MCX
Observations
Crudeoil trading range for the day is 7208-8116.
Crude oil fell after President Donald Trump said the US was engaged in "good talks" with Iran aimed at ending the Middle East conflict.
Supply conditions also improved as crude exports resumed at the Caspian Pipeline Consortium terminal on Russia's Black Sea coast.
International Energy Agency has downgraded its projections on Russian oil production because of Ukrainian attacks on the country's energy infrastructure.
Barclays said in a note "flows through the strait remain subdued"
Natural Gas
BUY NATURALGAS AUG @ 258 SL 254 TGT 262-265. MCX
Observations
Naturalgas trading range for the day is 251.7-272.7.
Natural gas dropped on record output, lower flows to LNG export plants, and ample amounts of gas in storage.
Average gas output has risen to 110.6 billion cubic feet per day so far in July, up from 110.0 bcfd in June
September premium over August hit record high for third straight session
