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CRUDEOIL

Crude oil trading range for the day is 8015-8881.

Crude oil dropped amidst reports that western sanctions caused Russia's crude output to slump in April.

US crude oil inventories unexpectedly fell by 3.394 million barrels, after an 8.487-millionbarrel addition in the previous week

Crude stocks at Cushing, Oklahoma, delivery hub fell by 2.403 million barrels, after a 1.379-million-barrel increase.

Russian crude production plunges by nearly 9% in April, OPEC+ data shows

BUY CRUDEOIL JUN 2022 @ 8150 SL 8020 TGT 8380-8500.MCX

NATURAL GAS

Natural gas trading range for the day is 618.8-679.

Natural gas rose on a drop in daily output over the past few days and forecasts for more demand next week than previously expected.

Power demand in Texas hit a monthly record high as homes and businesses keep their air conditioners cranked up to escape a spring heatwave.

Data provider Refinitiv said average gas output in the U.S. Lower 48 states climbed to 94.8 bcfd so far in May from 94.5 bcfd in April.

Average U.S. gas demand, including exports, would slide from 89.6 bcfd this week to 88.7 bcfd next week.

BUY NAT GAS MAY 2022 @ 620.00 SL 600.00 TGT 655.00-675.00.MCX

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