Buy Nat Gas Jul 2021 @ 218.00 SL 212.00 TGT 224.00-226.50.MCX - Kedia Advisory
CRUDEOIL
Crude oil trading range for the day is 5286-5562.
Crude oil bounced back as prospects of a demand recovery more than offset concerns over the rapid spread of Delta variant of coronavirus.
OPEC bullish on oil market recovery but virus variants pose risk
Demand in 2021 was expected to grow by 6 million barrels per day (bpd), with 5 million bpd of that in the second half, OPEC Secretary
Ahead of talks, OPEC forecasts point to oil supply deficit in August
SELL CRUDEOIL JUL 2021 @ 5450 SL 5520 TGT 5360-5320.MCX
NATURAL GAS
Natural gas trading range for the day is 255.9-291.9.
Natural gas surged on strong demand for US exports of liquified natural gas as global gas continues to trade more than three times above US prices.
Meantime, forecasts point for slightly milder weather and less air conditioning demand in the US over the next two weeks than previously expected.
Global gas continues to trade more than three times above U.S. prices, keeping demand for American exports high.
U.S. speculators boosted their long futures and options positions on the NYMEX to their highest since November 2018
BUY NAT GAS JUL 2021 @ 218.00 SL 212.00 TGT 224.00-226.50.MCX
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