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CRUDEOIL

Crude oil trading range for the day is 5119-5421.

Crude oil gains as investors were optimistic about an improved outlook for demand as the coronavirus vaccination campaign continues and economies reopen.

U.S. output growth seen at about 200,000 bpd in 2021

Saudi Arabia crude exports fall to 5.408 mln bpd in April

OPEC meets to decide output policy on July 1

SELL CRUDEOIL JUL 2021 @ 5200 SL 5260 TGT 5120-5080.MCX

NATURAL GAS

Natural gas trading range for the day is 230.5-245.9.

Natural gas fell on forecasts for slightly less demand next week than previously expected following heat waves

However downside seen limited as the release of a report showing a smaller-thanexpected build in storage last week.

U.S. natgas output to rise, demand to fall in 2021 – EIA

U.S. speculators boosted their net long futures and options positions last week by the most since February to their highest since March

BUY NAT GAS JUN 2021 @ 218.00 SL 212.00 TGT 224.00-226.50.MCX

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