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CRUDEOIL

Crude oil trading range for the day is 4620-4932.

Crude oil rose as a storm formed in the Gulf of Mexico and Iran said a three-month nuclear monitoring deal had expired, raising doubts about the future of indirect talks

Goldman Sachs said the case for higher prices remains intact even with increased Iran exports

UAE: Oil demand has already increased to 95 million bpd

Money managers cut their net long U.S. crude futures and options positions in the week to May 18, the U.S. Commodity Futures Trading Commission (CFTC) said

SELL CRUDEOIL JUN 2021 @ 4850 SL 4900 TGT 4760-4720.MCX

NATURAL GAS

Natural gas trading range for the day is 204.7-213.9.

Natural gas settled flat as production increased and on forecasts for milder Weather and less demand over the next two weeks than previously expected.

Traders noted cooler weather would cut the amount of gas power generators burn to keep air conditioners humming.

Speculators, meanwhile, boosted their net long gas futures and options positions for a third week in a row last week for the first time since February

Gas output in the Lower 48 U.S. states averaged 90.9 billion cubic feet per day (bcfd) so

SELL NAT GAS MAY 2021 @ 212.00 SL 218.00 TGT 206.00-202.80.MCX

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