AUG 5 TUESDAY
SHORT TERM TREND : BEARISH: TARGET RS 358
LONG TERM TREND : BULLISH: TARGET RS 530
S1 RS 367, S2 RS 362, S3 RS 359
R1 RS 373, R2 RS 375.70, R3 RS 378
PREFER SHORT AT RS 373 TO 373.30
STOP LOSS RS 376
TARGET RS 367
Gasoline futures fell to a three-month low on speculation
Tropical Storm Edouard won't do much to disrupt crude
oil operations or refining along the Texas and
Louisiana coasts.
Gasoline for September delivery in New York fell 2.11 cents,
or 0.7 percent, to $2.9790 a gallon at 12:02 p.m. Singapore time.
Yesterday, the contract 8.41 cents, or 2.7 percent, to settle at
$3.0002 a gallon on the New York Mercantile Exchange,
the lowest close since May 2.
U.S. refineries ran at 87.2 percent of capacity in the week ended
July 25, down 6.5 percentage points from a year earlier, as high
prices of crude oil and declining gasoline demand cut
refining margins.
U.S. gasoline supplies probably fell for a second week as declining
profit margins curbed refinery output, according to a Bloomberg
News survey of analysts.
Gasoline stockpiles probably fell 1.75 million barrels from 213.6
million barrels the week before, according to the median of
responses by eight analysts before an Energy Department
report this week. Seven analysts predicted a decrease, and
one said there was a gain.
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