Sell Natural gas Jul @ 280 SL 285 TGT 275-272. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL AUG @ 8600 SL 8700 TGT 8500-8400. MCX
Observations
Crudeoil trading range for the day is 8212-9146.
Crude oil slipped dropped on profit booking after prices gained because of worsening disruption to energy flows in the Red Sea.
Asian buyers have begun discussing rerouting Saudi crude shipments through the Suez Canal and around Africa.
Adding to supply constraints, the Caspian Pipeline Consortium suspended crude loadings at its Black Sea terminal after tanker attacks.
Crude inventories rose by 2 million barrels to 411.7 million barrels in the week ended July 17, the EIA said.
Natural Gas
SELL NATURALGAS JUL @ 280 SL 285 TGT 275-272. MCX
Observations
Naturalgas trading range for the day is 269.8-289.2.
Natural gas rose as a gas storage build was smaller than expected, and forecasters predicted hotter weather and higher gas demand.
EIA said energy firms added 32 billion cubic feet (bcf) of gas to storage during the week ended July 17
Russia's production of natural gas in January-June rose by 4.7% year-on-year to 298 billion cubic metres.
LSEG raises two-week Lower 48 gas demand outlook above Wednesday's forecast
