Buy Natural gas Jun 2022 @ 640.00 SL 620.00 TGT 670.00-690.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 8687-9049.
Crude recovered from lows and ended the week higher supported by the prospect of a tight market due to rising gasoline consumption in US in summer
OPEC+ set to stick to modest output hike for July
G7 calls on OPEC to play key role to ease global energy supplies
The latest EIA data showed a larger-than-expected drawdown in US crude inventories last week due to soaring exports
SELL CRUDEOIL JUN 2022 @ 8950 SL 9120 TGT 8750-8650.MCX
NATURAL GAS
Natural gas trading range for the day is 622.6-713.6.
Natural gas fell on rising output and forecasts for less demand over the next two weeks than previously expected.
That decline came even though U.S. power generators were forced to burn more gas for a second week in a row due to lower wind power.
EIA data showed US natural gas stocks rose by 80 billion cubic feet (bcf) last week
Data provider Refinitiv said average gas output in the U.S. Lower 48 states has climbed to 94.9 billion cubic feet per day (bcfd) so far in May
BUY NAT GAS JUN 2022 @ 640.00 SL 620.00 TGT 670.00-690.00.MCX
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