Sell CrudeOil Aug @ 7950 SL 8050 TGT 7800-7700. MCX - Kedia Advisory
CrudeOil
SELL CRUDEOIL AUG @ 7950 SL 8050 TGT 7800-7700. MCX
Observations
Crudeoil trading range for the day is 7754-8136.
Crude oil dropped after forecasters cut projections for 2026 global oil demand
OPEC lowered its forecast for world oil demand growth in 2026 to 580,000 barrels per day
IEA expects global oil supply to fall 4.3 mln bpd in 2026, versus a prior forecast for a 3.7 mln bpd decline.
Global oil demand to decline by 2.8 mln b/d in Q3. – IEA CRUDEOIL SEP-AUG -83.00
Natural Gas
SELL NATURALGAS AUG @ 270 SL 270 TGT 266-262. MCX
Observations
Naturalgas trading range for the day is 261.6-273.4.
Natural gas edged up on a daily rise in LNG export plants and forecasts for hotter weather.
LNG feedgas flows rise to 17.4 bcfd on Wednesday from 16.4 bcfd Tuesday
Midwest storm outages could trim gas-fired power burn this week
Warmer-than-normal weather is forecast to persist through Aug. 27
