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Published on 5/06/2020 12:42:27 PM | Source: Kedia Advisory

Sell Nat Gas JUN 2020 @ 139.00 SL 143.50 TGT 134.00-131.00.MCX - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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Crude Oil

* Crude oil trading range for the day is 2687-2895.

* Crude oil gained after data showed leading oil producers were in compliance with agreed production cuts. 

* U.S. oil production fell last week to 11.2 million barrels per day, the lowest since October 2018, the EIA said.

* Saudi, Russia agree oil cuts extension, raise pressure for compliance OPEC+ keen to keep U.S. shale in check as oil prices

BUY CRUDEOIL JUN 2020 @ 2720 SL 2640 TGT 2820-2880.MCX

 

Natural Gas 

* Natural gas trading range for the day is 133.8-142.4.

* Natural gas prices gained as rising LNG exports and a smaller-than-expected weekly storage build offsets an increase in output.

The U.S. Energy Information Administration (EIA) said utilities injected 102 billion cubic feet (bcf) of gas into storage

* The increase boosts stockpiles to 2.714 trillion cubic feet (tcf), 18.4% above the five-year average of 2.292 tcf for this time of year.

* Refinitiv said gas production in the U.S. Lower 48 states fell to an average of 88.5 billion cubic feet per day (bcfd) so far in June

SELL NAT GAS JUN 2020 @ 139.00 SL 143.50 TGT 134.00-131.00.MCX

 

 

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