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Published on 29/05/2020 3:14:14 PM | Source: Kedia Advisory

Sell Nat gas Jun 2020 @ 147.50 SL 151.00 Tgt 143.00-140.00 - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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Crude oil

* Crude oil trading range for the day is 2304-2734.

* Crude oil gained driven by data showing a drop in gasoline inventories in the U.S, amid an increase in demand.

* Crude inventories were up 7.9 million barrels in the week ended May 22, according to EIA.

* Data from the American Petroleum Institute industry group showed crude stocks rose by 8.7 million barrels.

* Gasoline stocks rose by 1.1 million barrels, more than 10 times the build had expected, and stocks of diesel and heating oil rose by 6.9 million barrels.

* SELL CRUDEOIL JUN 2020 @ 2540 SL 2620 TGT 2450-2380.MCX

 

 

NATURAL GAS

* Natural gas trading range for the day is 135.8-146.8.

* Natural gas dropped pressure by a decline in exports and demand and as inventories built more than expected.

* Strong production despite continued declines in rig count, has kept natural gas prices on their heels.

* The weather is expected to remain warmer than normal for most of the United States which should increase cooling demand.

* U.S. natural gas prices at the Henry Hub benchmark in Louisiana in 2020 were expected to drop to their lowest since 1998.

* SELL NAT GAS JUN 2020 @ 147.50 SL 151.00 TGT 143.00-140.00.MCX.

 

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