Buy Crude oil Jun 2022 @ 9100 SL 9250 TGT 8800-8700.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 8894-9182.
Crude oil prices climbed as traders waited to see whether the European Union would reach an agreement on banning Russian oil imports.
U.S. driving season kicks off amid supply concerns
OPEC+ expected to stick to supply release plan
Russian oil output slightly up at 10.17 mln bpd, TASS reports
SELL CRUDEOIL JUN 2022 @ 9100 SL 9250 TGT 8800-8700.MCX
NATURAL GAS
Natural gas trading range for the day is 660.5-701.7.
Natural gas gained on a reduction in daily output and an increase in fuel flowing to liquefied natural gas (LNG) export plants.
That decline came even though U.S. power generators were forced to burn more gas for a second week in a row due to lower wind power.
EIA data showed US natural gas stocks rose by 80 billion cubic feet (bcf) last week
Data provider Refinitiv said average gas output in the U.S. Lower 48 states has climbed to 94.9 billion cubic feet per day (bcfd) so far in May
SELL NAT GAS JUN 2022 @ 695.00 SL 715.00 TGT 665.00-650.00.MCX
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