Buy Naturalgas Jul @ 280 SL 276 TGT 286-290. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL AUG @ 5650 SL 5550 TGT 5750-5850. MCX
Observations
Crudeoil trading range for the day is 5590-5800.
Crude oil dropped as markets weighed geopolitical tensions, US-EU trade talks, and looming US tariffs.
Middle East producers raised output; US rig count fell to 422, the lowest since September 2021.
IEA raised its 2025 global oil supply growth forecast to 2.1 million bpd, demand outlook slightly trimmed.
IEA noted high summer refinery runs tightening supply despite OPEC+ unwinding output cuts, pointing to prompt market tightness
Naturalgas
BUY NATURALGAS JUL @ 280 SL 276 TGT 286-290. MCX
Observations
Naturalgas trading range for the day is 274.2-304.4.
Natural gas fell as robust supply and a softer demand outlook continued to weigh on prices.
US production hit a record, averaging 107 bcf/day in July, surpassing June’s previous high mark.
Weekly storage injection totaled 46 bcf, well above last year’s 18 bcf and five-year average.
Total gas inventories now stand 6.2% higher than the seasonal five-year norm, adding to bearish pressure.
