Sell Crudeoil Jul @ 7700 SL 7850 TGT 7550-7450. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL JUL @ 7700 SL 7850 TGT 7550-7450. MCX
Observations
Crudeoil trading range for the day is 7463-7875.
Crude oil rose as concerns over Middle East energy supplies increased.
US launches multiple strikes on Iran, which retaliates
Fewer vessels travel through Hormuz after US resumes blockade
Goldman Sachs said Brent could exceed $110 in the fourth quarter
Natural Gas
BUY NATURALGAS JUL @ 274 SL 270 TGT 278-282. MCX
Observations
Naturalgas trading range for the day is 264.6-291.6.
Natural gas dropped on rising output and lower flows to LNG export plants.
US energy firms added 41 billion cubic feet of natural gas to storage to a total of 3,024 bcf.
Average gas production increased to 110.2 billion cubic feet per day so far in July from 110.0 in the previous month.
The ample supply contrasted with limited LNG flows for major European and Asian consumers as the Iran and US resumed blockading tankers.
