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Sell Crudeoil OCT @ 7550 SL 7650 TGT 7450-7350. MCX - Kedia Advisory
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CRUDEOIL
Crudeoil trading range for the day is 7338-7618.
Crudeoil dropped as Russia eases fuel export ban
U.S. oil rigs fell by eight to 507, their lowest since February 2022
Higher prices for oil put U.S. crude production on track to rise from 11.9 mbpd in 2022 to 12.8 mbpd in 2023
Oil output from top shale-producing regions, is set to fall for a third consecutive month in October to its lowest level since May.
SELL CRUDEOIL OCT @ 7550 SL 7650 TGT 7450-7350. MCX
NATURALGAS
Naturalgas trading range for the day is 235.8-247.6.
Natural gas edged up on forecasts for warmer-than-normal weather in early October
EIA reported a 64 Bcf injection into domestic storage facilities for the week ending Sept. 15.
Total Lower 48 working gas in underground storage ended the period at 3,269 Bcf higher than the five-year average
U.S. natural gas rigs dropped by three to 118.
SELL NATURALGAS SEP @ 245 SL 250 TGT 238-232. MCX
