Sell Natural Gas NOV @ 320 SL ABOVE 325 TGT 310. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL NOV @ 9300 SL BELOW 9200 TGT 9500. MCX
Observations
Crude Oil trading range for the day is 8745-9945.
Crude oil dropped after reports that the US and Iran gave preliminary approval to a mediation proposal.
US President Donald Trump waived sanctions and tariffs on Russia that may lead to more Russian fuel exports.
Egypt says ready to back Saudi Arabia in war against Houthis
US crude stocks and distillate inventories fell while gasoline inventories rose last week, the Energy Information Administration said.
NATURALGAS
SELL NATURALGAS NOV @ 320 SL ABOVE 325 TGT 310. MCX
Observations
Natural Gas trading range for the day is 311.50-322.50.
Natural gas prices fell as forecasts for milder October weather, outweighing support from below-expected storage builds.
EIA reports 67 bcf storage build for week ended October 9
Pipeline disruptions and Gulf shut-ins linked to Hurricane Isaias curbed supply
Storage surplus to five-year norm narrowed to 1.3% from 2.0% a week earlier
