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Sell Crude Oil JUL 2022 @ 8400 SL 8550 TGT 8200-8100.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7909-8477.
Crude oil prices fell as markets braced for an expected drop in demand because of mass testing for COVID-19 in China
New Omicron subvariant case in Shanghai rattles market
U.S. oil output slips 0.5% in April to lowest since February – EIA
Russian court overturns CPC pipeline suspension order
SELL CRUDEOIL JUL 2022 @ 8400 SL 8550 TGT 8200-8100.MCX
NATURAL GAS
Natural gas trading range for the day is 477-550.4.
Natural Gas jumps on looming Nord stream shutdown
Markets are worried the shutdown might be extended due to the war in Ukraine.
Average gas output in the U.S. Lower 48 states rose to 96.2 bcfd so far in July from 95.3 bcfd in June.
Gas speculators cut their net short futures and options positions on the NYMEX and Intercontinental Exchanges
SELL NAT GAS JUL 2022 @ 530.00 SL 545.00 TGT 510.00-490.00.MCX
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