Sell Crude Oil OCT @ 5800 SL 5880 TGT 5720-5640. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL OCT @ 5800 SL 5880 TGT 5720-5640. MCX
Observations
Crudeoil trading range for the day is 5575-5883.
]Crude oil rose amid tightening supplies amid export issues in Kurdistan and Venezuela and disruptions to Russian supplies.
U.S. crude stocks, gasoline and distillate inventories fell last week - EIA.
API data shows U.S. crude and gasoline stocks fell last week Ukraine says it struck two oil facilities in Russia's Volgograd region
NATURALGAS
SELL NATURALGAS OCT @ 282 SL 287 TGT 276-272. MCX
Observations
Naturalgas trading range for the day is 271.1-287.5.
Natural gas dropped due to ample amounts of gas in storage after a larger-than-expected injection.
However downside seen limited amid forecasts for warmer-than-normal weather and firmer demand in the coming days.
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.
