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CRUDE OIL

Crude oil trading range for the day is 4981-5125.

Crude oil rose amid optimism over improving demand and on OPEC+ supply discipline.

Slow progress of the Iran nuclear talks also offered some support.

Russia's compliance with OPEC+ deal was close to 100% in May – Novak

Russia's Novak says premature to talk about August OPEC+ output decisions

BUY CRUDEOIL JUN 2021 @ 4840 SL 4780 TGT 4900-4940.MCX

NATURAL GAS

Natural gas trading range for the day is 217.4-232.

Natural gas rose after midday forecasts called for hotter weather over the next two weeks than previously expected.

Extra heat will prompt power generators to burn more gas to keep air conditioners humming.

One reason production has slid in recent months is that drillers have not added enough rigs to keep up with natural declines in well output.

U.S. pipeline exports to Mexico, meanwhile, averaged 6.69 bcfd so far in June, which would top the 6.11-bcfd average in May.

BUY NAT GAS JUN 2021 @ 218.00 SL 212.00 TGT 224.00-226.50.MCX

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