Buy NaturalGas Oct @ 227 SL 223 TGT 232-236. MCX - Kedia Advisory
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CRUDE OIL
Observations
Crudeoil trading range for the day is 5947-6579.
Crude oil dropped as fears of supply interruptions from the conflict between Israel and Iran eased.
Hezbollah left the door open to a negotiated ceasefire with Israel.
Libya's NOC says daily production reached 1.13 mln bpd of crude oil and condensate
U.S. oil demand rose 1.2% month-over-month to 20.48 million barrels per day (bpd) in July.
SELL CRUDEOIL OCT @ 6280 SL 6360 TGT 6200-6140. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 224.4-237.6.
Natural gas gains amid decline in output and forecasts for more demand.
The outlook for tropical storms to move away from the Gulf of Mexico, easing concern about a disruption.
The number of rigs drilling for natural gas in US rose by 3 this week to 102.
Gas output in the Lower 48 U.S. states has fallen to an average of 101.0 bcfd so far in October
BUY NATURALGAS OCT @ 227 SL 223 TGT 232-236. MCX
