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Buy Naturalgas Jul @ 202 SL 198 TGT 207-210. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6851-7019.
Crude oil recovers all losses amid lingering concerns about lower supply.
US crude oil inventories fell by 12.157 million barrels in the week ending June 28, 2024.
Gasoline stocks decreased by 2.214 million, exceeding the forecast of a 1 million draw.
Distillate stockpiles, including diesel and heating oil, decreased by 1.535 million barrels
BUY CRUDEOIL JUL @ 6920 SL 6820 TGT 7020-7080. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 198.8-210.
Natural gas dropped following the EIA's report of a 32 billion cubic feet storage build.
Gas in storage is now 18.8% above the seasonal norm.
Despite this, prices remained near a seven-week low due to increased production and oversupply
LNG export plant flows are slightly lower in July when compared with June, mainly due to reduced feedgas at Cheniere Energy's Sabine Pass.
BUY NATURALGAS JUL @ 202 SL 198 TGT 207-210. MCX
