Sell Natural gas Sep @ 258 SL 263 TGT 253-250. MCX - Kedia Advisory
Crude oil
SELL CRUDEOIL SEP @ 5650 SL 5750 TGT 5550-5450. MCX
Observations
Crudeoil trading range for the day is 5531-5673.
Crude oil rises on supply risks from Ukraine strikes, possible new US sanctions on Russian oil.
Crude oil inventories in the US fell by 2.392 million barrels to 418.3 million barrels in the week ended August 22.
Russia has revised up its crude oil export plan from western ports by 200,000 barrels per day in August.
Trump has renewed his threat to impose sanctions on Russia if there is no progress towards a peace deal in the next two weeks.
Natural gas
SELL NATURALGAS SEP @ 258 SL 263 TGT 253-250. MCX
Observations
Naturalgas trading range for the day is 240.3-262.9.
Natural gas rose buoyed by bargain buying and strong LNG export flows.
The average amount of gas flowing to the eight big U.S. LNG export plants has risen to 15.9 bcfd so far in August.
Average gas demand in the Lower 48 states, would ease from 111.1 bcfd to 107.1 bcfd next week and 104.3 bcfd in two weeks.
Average gas output in the Lower 48 states had risen to 108.5 bcfd so far in August, up from a record monthly high of 107.8 bcfd in July
