Sell Natural Gas OCT @ 306 SL 309 TGT 302-298. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL OCT @ 8750 SL 8650 TGT 8880-9000. MCX
Observations
Crudeoil trading range for the day is 8447-9243.
Crude oil prices rose on persistent worries about supply from the Middle East amid an increase in attacks on shipping.
IEA members expressed support for accelerating the release of around 100 mbls to market that were pledged back in March
Guyana oil output down to 832,000 barrels per day in August OPEC+ committee sees tight oil market, supply deficit, Novak says
NATURALGAS
SELL NATURALGAS OCT @ 306 SL 309 TGT 302-298. MCX
Observations
Naturalgas trading range for the day is 292.1-325.7.
Natural gas fell as higher domestic storage momentarily offset persistent supply tightness elsewhere.
Freeport feedgas is set for a one-week high after earlier restart delays
Tropical Storm Isaias to strengthen into hurricane before hitting near Alabama on Friday
Average gas output slid from record highs of 113.3 bcfd in both August and September to 111.5 bcfd so far in October
