Sell Natural Gas Sep @ 264 SL 269 TGT 258-252. MCX - Kedia Advisory
Crude Oil
BUY CRUDEOIL SEP @ 5750 SL 5650 TGT 5850-5950. MCX
Observations
Crudeoil trading range for the day is 5639-5899. Crude oil rose amid growing concerns that ongoing Russia-Ukraine conflict could further disrupt global supplies.
Prices are also supported by signs of economic resilience in China.
Ukrainian drone attacks have shut down facilities accounting for at least 17% of Russia's oil-processing capacity.
Investors are now looking ahead to an OPEC+ meeting later this week.
Natural gas
SELL NATURALGAS SEP @ 264 SL 269 TGT 258-252. MCX
Observations
Naturalgas trading range for the day is 249.4-270.2.
Natural gas gains as forecasts pointed to stronger demand this week, alongside gains in other energy markets.
Upside limited due to near-record output, ample storage levels, and expectations of milder weather that could cap demand.
Average gas output in the Lower 48 states fell to 107.6 billion cubic feet per day so far in September.
Record output has allowed energy companies to inject more gas into storage than usual this summer.
