UPDATE : Crude oil Nov Nymex future prices are at $89.50 levels, down by -2.64%. Supports is at $88.90 levels. Break below confirms further weakness. Resistances : $90/$90.80 levels.

Crude oil Oct MCX future prices are likely to extend its drop further if it breaches the support at 4700. Supports are at 4675/4642 Resistances : 4738/4765. CMP 4715.

DOE Inventory Data Update :

• Crude Oil  Actual: -482K   Survey: 1500K, Prior: -2446K
• Gasoline   Actual: 114K  Survey: -500K ,Prior: -481K
• Distillate    Actual: -3689K Survey: -400K, Prior: -482K
• Ref. utilization %  Actual: 0.80%  Survey: 0.10%, Prior: -1.50%

Data Impact:

Crude oil stocks has been decclined by more than 400K barrels due to more than 7.5 % fall in import in the last week. Slight rise in Gasoline and Distillate demand may support oil prices to take a positive cues for a small time. However, rise in crude oil stocks in Cushing Oklahoma delivery centre by more than 135K barrels may continue to weigh on oil prices. Overall, we suggest remain on selling side

Free Recommendation : Crude oil Oct MCX : Sell at 4725-4730 TP 4698/4672 SL above 4753. CMP 4726 @ 08:01 PM, 03.10.12

Free Recommendation Update: Book Profit in Crude Call,Sold@4725,Low:4669,Profit: 5000+ per Lot @ @ 08:24 PM, 03.10.12

Free Recommendation Update : 

Ref: Free Recommendation: Buy Lead MCX @ Cmp: 113.35,T1:113.85,T2: 114.35,SL: 112.3 – www.Commodity20.com,07.09.12,1:30 PM

Book Profit in Lead,Bought @ 103.35,Cmp:103.85,Target1 Achieved,Profit:2500+ per Lot - http://www.Commodity20.com ,07.09.12,03:01 PM

SHFE Inventories Data :

Copper inventories monitored by the Shanghai Futures Exchange declined for a second week, while those of aluminum climbed for an eighth week as per the weekly Inventory release data.  Copper Down by 6992 metric tons  Aluminum Up by 11777 metric tons   Zinc Up by 3126 metric tons

IMPACT:

It may support gains in Copper prices, even the Chinese National Development and Reform Commission has backed government projects of infrastructure and may support gains in base metals.

BASE METALS NEWS UPDATE:

Base metals are heading for the biggest weekly gain in the quarter, after China approved new infrastructure projects, supporting the demand outlook in the world’s biggest consumer of the metal.

The government backed construction plans including roads of nearly 2018km, high speed trains and warehouses, statements on the National Development and Reform Commission’s website. Followed by approval of higher spending on railroads may continue to support gains in base metals

LME Inventory:

• Copper   DOWN    -1600
• Zinc    DOWN    -3550
• Lead    DOWN    -675
• Nickel  DOWN    -312
• Aluminum        DOWN    -9025

Cancelled warrant ratio        

• Copper  DOWN     (0.53)
• Zinc    DOWN     (0.32)
• Lead    UP       0.30
• Nickel  DOWN     (0.33)

Data Impact:

Though inventory have declined for all base metals, fall in cancelled warrants may continue to pressure on whole base metal pack except Lead.

Free Copper Call Update :  

Free Call Given on 23.08.12, Copper Aug MCX:  Sell in the range of 425-425.50 TP 422.50/419 with stop loss above 428.10…CMP 425.25

Book Profit Today : Copper Sold @ 425.50,Cmp:422.50,Profit : 3000+ per Lot – www.Commodity20.com 24.08.12

EIA Natural gas storage data update :

Actual: 24BCF  

Survey: 30BCF

Prior: 28BCF

Data Impact : Positive for prices. 

Momentum Call: Buy Natural Gas @ Cmp:164.8,T1:166.8,T2:168.8 ,SL:159.10 – www.Commodity20.com

09.08.12,08:00 PM

 Free Momentum Call: Target 1 Achieved,Cmp:167.5, Recommended to Hold Positions, Expected to hit Upper Circuit and Achive 2nd Target too @ 09.08.12,08:04 PM

UPDATE : Natural gas Aug MCX future prices are at 169 levels, up by 4.64%. Sustianed trades above 166 would lead the gains towards 172/175 levels. Hold Buying is advisable for intraday.

Free Momentum Call Update:  All Targets  Achieved,Cmp:170.60, Everyone Book Profits of Rs.7250+ per lot , Expected to hit 2n Upper Circuit  too @ 09.08.12,08:12 PM

Hurray ! As Said 2nd Upper Circuit hit.. Cmp:171.4 , All the Members Enjoy Big Profits !!!

:  DOE INVENTORY DATA UPDATE    :

• Crude Oil  

Actual:  -3729K   Survey: -1550K, Prior:  -6522K

• Gasoline  

Actual:  -1801K  Survey:  -1750 K, Prior: -2174K

• Distillate  

Actual:  -724K    Survey: 250K, Prior: -974K

• Ref. utilization  

Actual:  0.40%  Survey: -0.50%, prior: -0.80%

Data Impact : Slightly Positive for crude oil prices  , 

Strategy will be Buy From Dips 

Momentum Call (HIGH RISK):

Sell Crude Oil @ 5218-25,Target : 5190,T2:5160,SL: 5245 ,Cmp: 5222- www.Commodity20.com,@ 08.08.12, 08:02 PM

• Summary of Weekly Petroleum Data for the Week Ending August 8, 2012

U.S. crude oil refinery inputs averaged 15.6 million barrels per day during the weekending August 3, 36 thousand barrels per day above the previous week’s average.Refineries operated at 92.6 percent of their operable capacity last week. Gasolineproduction increased last week, averaging just under 9.3 million barrels per day.Distillate fuel production increased last week, averaging 4.7 million barrels per day

U.S. crude oil imports averaged 8.6 million barrels per day last week, up by 221 thousandper day from the previous week. Over the last four weeks, crude oil imports have averaged 8.9 million barrels per day, 453 thousand barrels per day below the same fourweek period last year. Total motor gasoline imports (including both finished gasoline and
gasoline blending components) last week averaged 457 thousand barrels per day.Distillate fuel imports averaged 71 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.7 million barrels from the previous week. At 369.9 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 1.8 million barrels last week
and are in the lower half of the average range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 0.7 million barrels last week and are below the lower limit of the average range for this time of year. Propane/propylene inventories increased by 0.6 million
barrels last week and are near the upper limit of the average range. Total commercial petroleum inventories decreased by 1.0 million barrels last week

Total products supplied over the last four-week period have averaged 18.9 million barrels per day, down by 1.9 percent compared to the similar period last year. Over the last four weeks, motor gasoline product supplied has averaged 8.7 million barrels per day, down by 4.2 percent from the same period last year. Distillate fuel product supplied has
averaged 3.6 million barrels per day over the last four weeks, down by 2.8 percent from the same period last year. Jet fuel product supplied is 3.6 percent lower over the last four weeks compared to the same four-week period last year.

Free Momentum Call Update : Crude Call : Sold @ 5218-25,Cmp:5175 ,Book Profit: 4300+ per lot  - www.Commodity20.com,@ 08.08.12, 08:16 PM

Please Note, Inventory has witnessed Drawdowns, Its Positive for Prices, The Free Sell Call Given Was a Momentum Call only.