Sell Crude Oil OCT @ 9250 SL 9350 TGT 9100-9000. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL OCT @ 9250 SL 9350 TGT 9100-9000. MCX
Observations
Crudeoil trading range for the day is 8918-9576.
Crude oil prices fall on easing fears over Saudi supply disruption
Saudi Arabia and Houthis exchange fresh strikes
Chinese exports of refined oil products in August rose 12.7% YoY.
Libya's NOC said oil production has returned to normal after a brief decline caused by shutdowns at three oilfields
NATURALGAS
SELL NATURALGAS SEP @ 280 SL 283 TGT 276-273. MCX
Observations
Naturalgas trading range for the day is 269.7-287.5.
Natural gas gained amid bullish forecasts for more demand and an increase in daily flows to LNG export plants.
However, upside was capped amid increase in output and ample amounts of gas in storage.
Meteorologists forecast weather would remain mostly warmer than normal through October 3. Average gas flows to the nine big U.S.
LNG export plants rose to 18.1 bcfd so far in September, up from 17.2 bcfd in August
