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Published on 17/06/2019 9:54:39 AM | Source: Kedia Commodity Ltd

Buy Natural Gas Jun 2019 @ 161.00 SL 159.00 TGT 164.00-166.50.MCX - Kedia Commodities

Posted in Commodities Reports| #Kedia Commodity Ltd #Commodity Tips

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Crude Oil

* Crudeoil trading range for the day is 3564-3754.

* Crude oil prices gained supported by attacks on two oil tankers in the Gulf of Oman this week gave prices a floor.

* The outlook for oil demand growth in 2019 has dimmed due to worsening prospects for world trade, the IEA said.

* President Trump states that the Oman Strait will not be closed, but if it is, then it will not be closed for long

* President Trump says Iran committed the attack on the oil tankers in the Gulf of Oman

BUY CRUDEOIL JUN 2019 @ 3630 SL 3590 TGT 3680-3740.MCX

 

Natural Gas

* Naturalgas trading range for the day is 160-171.4.

* Natural gas edged up on forecasts for rising demand as exports increase and the need for more fuel to meet increasing air conditioning use.

* The near-record production and moderate weather this spring allowed utilities to inject record amounts of gas into storage in May.

* Output in the Lower 48 U.S. states edged up to a near two-week high of 89.2 billion cubic feet per day (bcfd) from 89.0 bcfd.

* EIA projected U.S. gas consumption would rise to an all-time high of 84.17 bcfd in 2019 from a record high 82.08 bcfd a year ago.

BUY NAT GAS JUN 2019 @ 161.00 SL 159.00 TGT 164.00-166.50.MCX

 

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