Sell Crudeoil Jul @ 6870 SL 6950 TGT 6760-6680. MCX - Kedia Advisory
Crudeoil
Observations
Crudeoil trading range for the day is 6743-6929.
Crude oil slips as concerns over hurricane damage ease
A fresh wave of pessimism over energy demand in China also pressured crude oil.
The number of operating oil rigs in the U.S. were unchanged at 479 last weeks, holding at its lowest since December 2021
U.S. oil production and demand rose to a four-month high in April
SELL CRUDEOIL JUL @ 6870 SL 6950 TGT 6760-6680. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 190.2-209.2.
Natural gas prices increased due to forecasts of a heatwave in the US through late July.
This increase was despite recent output increases, and a drop in gas flowing to LNG export plants.
Gas output in Lower 48 US states rose to an average of 102.4 billion cubic feet per day in July
Meteorologists projected weather across the Lower 48 states would remain hotter than normal through at least July 24.
BUY NATURALGAS JUL @ 196 SL 192 TGT 202-206. MCX
