Buy Crude Oil Sep @ 5500 SL 5420 TGT 5580-5660. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL SEP @ 5500 SL 5420 TGT 5580-5660. MCX
Observations
Crudeoil trading range for the day is 5446-5664.
Crude oil rises as Israel attacks Hamas leadership in Doha, expanding Mideast conflict.
Oil also supported by smaller-than-expected OPEC+ output hike.
Markets also expect China to continue stockpiling oil, tightening supply further.
China, has been building up crude oil inventories at a rate of 530,000 bpd so far this year - S&P Global
NATURALGAS
SELL NATURALGAS SEP @ 276 SL 282 TGT 270-265. MCX
Observations
Naturalgas trading range for the day is 263.5-283.9.
Natural gas prices fell on near-record output, ample supplies of gas in storage.
Pressure also seen amid a small decline in flows to LNG export plants, and forecasts for milder weather.
U.S. natural gas output and demand will both rise to record highs in 2025 before sliding in 2026 – EIA
Meteorologists forecast the weather will remain warmer than normal through at least September 24
