Sell Naturalgas Oct @ 308 SL ABOVE 310 TGT 300. MCX - Kedia Advisory
Crudeoil
CRUDEOIL NOV @ 9050 SL BELOW 8950 TGT 9250. MCX
Observations
Crude Oil trading range for the day is 8690-9445.
Crude oil gained amid mounting supply concerns in the Middle East.
However, attacks on ships in the Middle East and Ukrainian strikes on Russian energy infrastructure limited the decline.
US crude oil inventories fell by 11.12 million barrels, marking the largest draw since late January - API
IEA says Russian oil output up 65,000 bpd in September, still down on the year
Natural Gas
SELL NATURALGAS OCT @ 308 SL ABOVE 310 TGT 300. MCX
Observations
Natural Gas trading range for the day is 296.50-320.50
Natural gas dropped on profit booking after prices climbed as data showed a smaller-than-expected increase in storage.
US natural gas inventories increased by 67 billion cubic feet in the week ending October 9, falling short of market expectations.
Supply constraints have also supported prices, with Lower 48 production averaging 110.8 billion cubic feet per day so far in October
However, forecasts for milder-than-usual weather through October 29 could restrain heating and cooling demand.
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