Sell Naturalgas SEP @ 255 SL 260 TGT 250-245. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL OCT @ 5650 SL 5750 TGT 5550-5450. MCX
Observations
Crudeoil trading range for the day is 5389-5805.
Crude oil rose after a deal to resume oil exports from Iraq's Kurdistan stalled.
Tensions in the Middle East remained elevated.
IEA said world oil supply would rise more rapidly this year and a surplus could expand in 2026
Overall, the global oil market is bracing for elevated supply and slowing demand.
Naturalgas
SELL NATURALGAS SEP @ 255 SL 260 TGT 250-245. MCX
Observations
Naturalgas trading range for the day is 243.3-259.5.
Natural gas gained amid forecasts for warmer-than-normal weather and firmer demand in the coming days.
However upside seen limited due to ample amounts of gas in storage after a larger-than-expected injection last week.
Meteorologists forecast the weather will remain warmer than normal through at least October 4.
Average gas demand in the Lower 48 states, jumped from 101.1 bcfd last week to 104.2 bcfd this week.
