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CRUDEOIL

Crude oil trading range for the day is 8390-8750.

Crude oil prices climbed amid signs of tight supplies and expectations for firmer demand during the summer

Saudi foreign minister does not expect immediate global oil shortage

U.S. to sell up to 40.1 mln bbls crude oil from SPR

Crude inventories fell by 1 million barrels in the week to May 20 to 419.8 million barrels

SELL CRUDEOIL JUN 2022 @ 8650 SL 8800 TGT 8480-8350.MCX

NATURAL GAS

Natural gas trading range for the day is 659.1-748.9.

Natural gas jumped as power generators and liquefied natural gas (LNG) export plants consumed more of the fuel.

Power companies burned more gas to generate electricity due to a lack of wind in recent weeks.

Speculators increased their net long futures and options positions for the first time in five weeks to their highest since early May

Refinitiv projected average U.S. gas demand, including exports, would ease from 89.4 bcfd this week to 88.0 bcfd next week.

SELL NAT GAS JUN 2022 @ 720.00 SL 745.00 TGT 690.00-670.00.MCX

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