Sell Natural Gas SEP @ 268 SL 271 TGT 265-263. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL SEP @ 9020 SL 8920 TGT 9150-9250. MCX
Observations
Crudeoil trading range for the day is 8780-9354.
Crude oil rose driven by escalating US-Iran tensions and stronger Chinese oil demand.
US military said it destroyed 5 Iranian crude tankers after missile attacks.
Iran claimed attacks on 2 US vessels and 8 oil tankers in the Gulf.
Houthi strikes targeted Saudi Arabia's 400,000-bpd Jazan refinery
NATURALGAS
SELL NATURALGAS SEP @ 268 SL 271 TGT 265-263. MCX
Observations
Naturalgas trading range for the day is 264-279.8.
Natural gas slid on record output, ample amounts of gas in storage and forecasts for cooler weather.
Storage surplus likely narrowed to 4.3% above normal US Lower 48 gas output hit 113.7 bcfd in September, up from 112.2 bcfd.
US gas demand is forecast to fall to 109.1 bcfd next week
