Sell CrudeOIl SEP @ 5720 SL 5800 TGT 5620-5520. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL SEP @ 5720 SL 5800 TGT 5620-5520. MCX
Observations
Crudeoil trading range for the day is 5490-5800.
Crude oil rose amid potential disruption of supplies from Russia due to Ukrainian drone attacks.
Goldman Sachs estimates that the Ukrainian attacks have taken out about 300,000 bpd of Russian refining capacity.
The EU is considering new sanctions, including those targeting firms in India and China that facilitate Moscow’s oil trade.
U.S. crude oil output is now expected to average a record 13.44 million bpd this year, the EIA said.
Naturalgas
SELL NATURALGAS SEP @ 278 SL 283 TGT 272-267. MCX
Observations
Naturalgas trading range for the day is 261.4-282.6.
Natural gas edged up on a drop in daily output.
That price increase came despite forecasts for less demand over the next two weeks than previously expected.
U.S. natural gas output and demand will both rise to record highs in 2025 before sliding in 2026 – EIA
EIA forecast average U.S. LNG exports would rise to 14.7 bcfd in 2025 and 16.3 bcfd in 2026 from a record 11.9 bcfd in 2024.
