Sell Crudeoil Jul 2022 @ 8450 SL 8550 TGT 8300-8200.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7965-8717.
Crude oil gained supported by tight supply, although prices ended the week with losses
Crude has gained support from the almost total shutdown of output in OPEC member Libya due to unrest
OPEC+ to stick to oil supply rise plan as Biden heads to Saudi
Russia's July idle primary oil refining capacity revised up 23%
SELL CRUDEOIL JUL 2022 @ 8450 SL 8550 TGT 8300-8200.MCX
NATURAL GAS
Natural gas trading range for the day is 463.8-518.
Natural gas dropped on a bigger-than-expected storage build
The extended shutdown of the Freeport LNG export plant in Texas allows utilities to quickly rebuild low gas stockpiles.
On a daily basis, output was on track to drop to 10.3 bcfd on Wednesday, the lowest since November 2021
Average gas output in the U.S. Lower 48 states slid to 94.9 bcfd so far in June from 95.2 bcfd in May.
SELL NAT GAS JUL 2022 @ 525.00 SL 545.00 TGT 500.00-480.00.MCX
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