Sell Crudeoil Jul 2021 @ 5450 SL 5520 TGT 5360-5320.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5389-5569.
Crude oil gains amid optimism about strong energy demand after OPEC+ said it expects demand to pick up.
Goldman sees 0.5 mbpd Opec+ output rise given Delta Covid variant risk
Goldman says more OPEC+ supply needed to balance oil market
Japan's May oil imports rise 5.9 pct y/y – METI
SELL CRUDEOIL JUL 2021 @ 5450 SL 5520 TGT 5360-5320.MCX
NATURAL GAS
Natural gas trading range for the day is 262.4-284.4.
Natural gas dropped on profit booking after prices rallied on soaring global gas prices and forecasts for higher U.S. air-conditioning and export demand
U.S. natural gas producers hope customers will pay more for 'green gas'
In the power market, prices soared to $126 per megawatt hour in New England, their highest since November 2018, as a heat wave started to bake the region.
Data provider Refinitiv said gas output in the Lower 48 U.S. states averaged 91.6 bcfd so far in June, up from 91.0 bcfd in May
BUY NAT GAS JUL 2021 @ 218.00 SL 212.00 TGT 224.00-226.50.MCX
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