Sell Crude Oil Jul 2021 @ 5440 SL 5550 TGT 5320-5260.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5232-5546.
Crude oil recovered from lows as U.S. crude and gasoline stocks fell sharply
Saudi-UAE still at impasse, Russia steps in to rescue OPEC+ deal
U.S. 2021 crude output to fall less than previous forecast-EIA
Oil stockpiles in the world's biggest oil user fell by 8 million barrels for the week ended July 2, according to American Petroleum Institute figures.
SELL CRUDEOIL JUL 2021 @ 5440 SL 5550 TGT 5320-5260.MCX
NATURAL GAS
Natural gas trading range for the day is 260-286.2.
Natural gas climbed after a federal report showed last week's storage build was much smaller-than-expected.
EIA said U.S. utilities added 16 billion cubic feet (bcf) of gas into storage during the week ended July 2
Data provider Refinitiv projected average gas demand, including exports, would rise from 89.9 bcfd this week to 92.7 bcfd next week
U.S. pipeline exports to Mexico averaged 6.4 bcfd so far in July, down from a record 6.7 bcfd in June.
SELL NAT GAS JUL 2021 @ 270.00 SL 275.00 TGT 264.00-260.00.MCX
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