Sell Natural Gas Aug @ 248 SL 252 TGT 242-238. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL AUG @ 5520 SL 5440 TGT 5600-5680. MCX
Observations
Crudeoil trading range for the day is 5459-5691.
Crude oil fell as Trump extended the US–China tariff truce by 90 days and investors awaited US–Russia talks on Ukraine.
World oil demand will rise by 1.38 million barrels per day in 2026 - OPEC
OPEC+ raised crude output by 335,000 bpd, a further increase reflecting its decisions this year to increase output quotas.
Attention turns to monthly reports from the US Energy Department and the IEA for clues on market balance.
NATURALGAS
SELL NATURALGAS AUG @ 248 SL 252 TGT 242-238. MCX
Observations
Naturalgas trading range for the day is 232.6-268.
Natural gas fell pressured by near-record production, strong storage levels, and milder weather forecasts.
Output in the Lower 48 states averaged 108.4 bcfd in August, up from July’s record 107.9 bcfd.
Despite a hotter-than-usual summer, robust supply has allowed above-average injections into storage.
Meteorologists still see above-normal heat through August 26 but with lower intensity than previously forecast, reducing demand
