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CRUDEOIL

Crude oil trading range for the day is 8074-8872.

Crude oil dipped as concerns over global supply appeared to outweigh a build in U.S. fuel product inventories as OPEC+ decided stick its output strategy.

OPEC+ sticks to policy, avoids Sept oil output debate

Russian oil price cap could push global prices higher - Russia's Novak says

OPEC+ meets with little prospect of pumping more oil

SELL CRUDEOIL JUL 2022 @ 8500 SL 8650 TGT 8280-8150.MCX

NATURAL GAS

Natural gas trading range for the day is 391.3-551.1.

Natural gas fell on expectations last week's storage build will be near normal despite hotter than usual weather

Prices fell despite a drop in daily output and forecasts for hotter than normal weather through at least early July

Data provider Refinitiv said average gas output in the U.S. Lower 48 states slid to 95.1 bcfd so far in June from 95.2 bcfd in May.

Open interest in NYMEX futures fell to its lowest since July 2016 for a second day in a row as investors continued to cut back on risky assets.

BUY NAT GAS JUL 2022 @ 470.00 SL 450.00 TGT 500.00-515.00.MCX

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