Buy Naturalgas Jul @ 262 SL 257 TGT 268-272. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL AUG @ 5620 SL 5520 TGT 5720-5820. MCX
Observations
Crudeoil trading range for the day is 5569-5727.
Crude rebounds on big US inventory drop, focus on trade talks, signed deals
US government data showed crude inventories fell by 3.17 million barrels last week, more than expected.
U.S. crude exports were up by 337,000 barrels per day (bpd) to 3.86 million bpd.
The EU agreed its 18th sanctions package against Russia, lowering the price cap for Russian crude.
Naturalgas
BUY NATURALGAS JUL @ 262 SL 257 TGT 268-272. MCX
Observations
Naturalgas trading range for the day is 254.8-288.
Natural gas fell pressured by near-record output and forecasts for milder weather than previously expected.
Temperatures stay hotter than normal through August 6, but revised models show reduced heat intensity overall.
Stockpiles remain robust, standing about 6% above the five-year seasonal average, helping cap price upside.
LSEG data shows Lower 48 US output averaging 107.2 bcfd in July, topping June’s record.
