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CRUDEOIL

Crude oil trading range for the day is 9042-9732.

Crudeoil gains as concerns about global supplies outweighed demand worries.

U.S. commercial crude oil inventories rose unexpectedly last week, while crude in the Strategic Petroleum Reserve fell by a record amount

U.S. crude output and petroleum demand to rise in 2022 – EIA

Money managers cut their net long U.S. crude futures and options positions in the week to June 7, the U.S. CFTC said.

SELL CRUDEOIL JUN 2022 @ 9500 SL 9650 TGT 9250-9150.MCX

NATURAL GAS

Natural gas trading range for the day is 634.6-715.8.

Natural gas slid as the shutdown of the Freeport LNG export plant cut U.S. demand for gas, leaving more of the fuel available to refill low stockpiles.

U.S. storage was currently about 15%, or 340 bcf, below normal levels for this time of year, its lowest since April 2019.

EIA said utilities added 97 bcf of gas to storage during the week ended June 3.

Average gas output in the U.S. Lower 48 states fell to 94.8 bcfd so far in June from 95.1 bcfd in May.

SELL NAT GAS JUN 2022 @ 720.00 SL 750.00 TGT 670.00-640.00.MCX

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