Sell Natural Gas AUG @ 244 SL 248 TGT 240-236. MCX - Kedia Advisory
CRUDE OIL
SELL CRUDEOIL SEP @ 5440 SL 5520 TGT 5360-5300. MCX
Observations
Crudeoil trading range for the day is 5341-5501.
Crude falls as Russia-Ukraine-US talks raise hopes of sanction relief, more supply.
Chinese refineries bought 15 Russian oil cargoes for October-November delivery.
IEA forecasts record 2026 surplus of 2.96 million barrels daily.
Global oversupply concerns keep prices near two-month lows despite volatility.
NATURAL GAS
SELL NATURALGAS AUG @ 244 SL 248 TGT 240-236. MCX
Observations
Naturalgas trading range for the day is 227-260.
Natural gas fell pressured by near-record production and strong storage levels.
Output in the Lower 48 states averaged 108.1 bcfd so far in August, up from July’s record 107.9 bcfd.
Despite a hotter-than-usual summer, robust supply has allowed above-average injections into storage.
The latest EIA data showed a 56 bcf storage build for the week ended August 8, well above seasonal norms.
