Sell Crude Oil SEP @ 7840 SL 7940 TGT 7740-7640. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL SEP @ 7840 SL 7940 TGT 7740-7640. MCX
Observations
Crudeoil trading range for the day is 7525-8351.
Crude oil fell as the US intensified economic pressure on Iran and its trading partners.
Morgan Stanley bank forecasts Brent oil at $90 per barrel in the Q3 2026, $100 in Q4 2026, $95 in Q1 2027 and $90 in Q2 2027.
Commodity vessel transits through Strait of Hormuz hit three-month low, data shows
Crude oil exports from Saudi Arabia rose to 3.993 million barrels per day in June, from a record low of 3.434 million bpd in May
NATURALGAS
BUY NATURALGAS AUG @ 264 SL 261 TGT 268-272. MCX
Observations
Naturalgas trading range for the day is 255.2-270.8.
Natural gas prices fell as strong production and ample inventories weighed on the market.
Output in the Lower 48 states averaged a record 111.5 bcfd in August so far, up from 110.7 bcfd in July.
Gas inventories are 6.7% above their five-year seasonal average.
Gas flows to the nine major LNG export facilities eased to 17.1 bcfd so far this month from 17.2 bcfd in July
