Sell Natural Gas Jul @ 286 SL 290 TGT 282-278. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL AUG @ 9050 SL 9150 TGT 8900-8800. MCX
Observations
Crudeoil trading range for the day is 8281-9429.
Crude oil rose after Yemen's Houthis said they struck two Saudi oil tankers, raising fears of disruption to global oil supplies.
Two Chinese supertankers with Saudi oil head to Bab el-Mandeb for Red Sea exit
Goldman Sachs said that oil flows through the Bab el-Mandeb strait have averaged nearly 9 mbpd over the past month.
Goldman Sachs maintains Q4 2026 Brent forecast of $80/barrel
Natural Gas
SELL NATURALGAS JUL @ 286 SL 290 TGT 282-278. MCX
Observations
Naturalgas trading range for the day is 274.9-293.7.
Natural gas settled flat amid forecasts for hotter weather and higher demand.
Limiting gains, however, gas inventories were 6.4% above their five-year seasonal average as of July 10, signaling comfortable supply conditions.
Average gas output rose to 110.4 billion cubic feet per day (bcfd) so far in July, up from 110.0 bcfd in June
LSEG projected average gas demand in the Lower 48 states, including exports, would hold at 111.0 bcfd this week and next.
