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Published on 14/06/2018 11:07:11 AM | Source: Kedia Commodity Ltd

Buy Nat Gas Jun 2018 @ 197.00 SL 195.00 TGT 200.00-203.00 - Kedia Commodity

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

CRUDEOIL

Crudeoil trading range for the day is 4429-4557.

Crude oil prices settled higher as data showed a massive draw in U.S. crude supplies despite an ongoing expansion in output.

Inventories of U.S. crude fell by 4.143 million barrels for the week ended June 8, well above expectations for a draw of 1.440 million barrels.

The API reported that crude oil inventories jumped 830,000 barrels last week to 433.7 million, as U.S. crude production surged 28% in the last two years.

Output in Russia, another top producer, also rose above 11 million barrels per day, according to reports.

BUY CRUDEOIL JUN 2018 @ 4470 SL 4440 TGT 4510-4530.MCX

NATURAL GAS

Naturalgas trading range for the day is 195.8-203.6.

Natural gas gained concerns storage builds will not be high enough to return stockpiles to near normal levels before next winter despite record-high production.

Prices increased despite forecasts for weaker demand next week than previously expected.

Meteorologists have predicted temperatures would remain at above normal levels through at least the end of June.

Production in the lower 48 U.S. states held at a record high average of 79.3 billion cubic feet per day (bcfd) over the past 30 days.

BUY NAT GAS JUN 2018 @ 197.00 SL 195.00 TGT 200.00-203.00.MCX

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