Sell Crudeoil Sep @ 5720 SL 5820 TGT 5620-5550. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL SEP @ 5720 SL 5820 TGT 5620-5550. MCX
Observations
Crudeoil trading range for the day is 5529-5793.
Crude oil rises as traders fear Russian supply hit from new US sanctions, Ukraine attacks.
Ukraine drone attacks target Russian energy infrastructure
US vice president says Russia has made 'significant concessions'
Federal Reserve Chair Powell signals possible September rate cut
NATURAL GAS
BUY NATURALGAS AUG @ 230 SL 225 TGT 235-240. MCX
Observations
Naturalgas trading range for the day is 225.1-241.7.
Natural gas fell pressured by forecasts for cooler weather and fading summer demand.
However, downside seen limited amid recent declines in daily output and an increase in gas flows to LNG export plants.
LNG export flows averaged 15.9 bcfd, nearing record April highs.
Lower 48 output hit 108.5 bcfd, surpassing July’s previous record.
