Sell Crude Oil Jul 2021 @ 5450 SL 5520 TGT 5360-5320.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5165-5707.
Crude oil dropped as investors feared this week's collapse in OPEC+ talks could mean more supply, not less, is on the way.
U.S. crude inventories expected to fall in weekly reports
U.S. closely monitoring OPEC+ talks, White House says
Goldman says crude oil output path uncertain as OPEC+ talks cease
SELL CRUDEOIL JUL 2021 @ 5450 SL 5520 TGT 5360-5320.MCX
NATURAL GAS
Natural gas trading range for the day is 256.1-282.7.
Natural gas fell as forecasts projected cooler weather over the next two weeks, while output is expected to rise.
Forecast show a broader area of normal to below normal temperatures, especially in the gas consuming areas, weighing on the market
As for storage, the Energy Information Administration reported a 55 Bcf injection into inventories for the week ending June 11.
Output decline was due to a problem with a natural gas liquids pipeline in West Virginia.
BUY NAT GAS JUL 2021 @ 218.00 SL 212.00 TGT 224.00-226.50.MCX
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