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CRUDEOIL

Crude oil trading range for the day is 5197-5563.

Crude oil prices nudged up underpinned by strong demand during the summer driving season and a pause in talks to revive the Iran nuclear deal

Iraq, OPEC's second-biggest producer, expects oil prices to reach $80 per barrel as the energy market stabilizes.

Money managers raised their net long U.S. crude futures and options positions in the week to June 8, the U.S. Commodity Futures Trading Commission

U.S. energy firms this week added oil and natural gas rigs for a second week in a row as crude prices rose to their highest since 2018

BUY CRUDEOIL JUL 2021 @ 5420 SL 5360 TGT 5480-5520.MCX

NATURAL GAS

Natural gas trading range for the day is 230.5-240.7.

Natural gas fell on forecasts for slightly less demand next week than previously expected following heat waves

However downside seen limited as the release of a report showing a smaller-thanexpected build in storage last week.

U.S. natgas output to rise, demand to fall in 2021 – EIA

U.S. speculators boosted their net long futures and options positions last week by the most since February to their highest since March

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

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