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 5376-5576.
Crude oil gained on expectations demand growth will outstrip supply and OPEC+ producers will be cautious in returning more crude to the market from August.
Oil prices also remain supported by rising hopes of better demand at the onset of the summer driving season
U.S. infrastructure bill brightens demand outlook -analysts
OPEC+ meeting on July 1, seen cautious with easing output cuts
BUY CRUDEOIL JUL 2021 @ 5420 SL 5360 TGT 5480-5520.MCX
NATURAL GAS
Natural gas trading range for the day is 252.1-266.3.
Natural gas edged up on forecasts for hotter weather and higher air conditioning and export demand next week than previously expected.
Traders noted prices were up even though the weather was expected to turn milder in two weeks, which should cut air conditioning demand a bit.
EIA said utilities added 55 billion cubic feet (bcf) of gas into storage during the week ended June 18.
Data provider Refinitiv said gas output in the Lower 48 U.S. states averaged 91.6 bcfd so far in June
BUY NAT GAS JUL 2021 @ 218.00 SL 212.00 TGT 224.00-226.50.MCX
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