Sell Crudeoil Jun 2021 @ 5070 SL 5120 TGT 5020-4960.MCX - Kedia Advisory
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CRUDE OIL
Crude oil trading range for the day is 4981-5117.
Crude oil dropped as investors eyed the outcome of talks between Iran and world powers over a nuclear deal that is set to boost crude supplies.
However downside seen limited underpinned by a brighter economic and fuel-demand outlook
China's May crude oil imports drop 15% on year as overhauls bite
China Jan-May crude oil imports up 2.3% at 221 million tonnes – customs
SELL CRUDEOIL JUN 2021 @ 5070 SL 5120 TGT 5020-4960.MCX
NATURAL GAS
Natural gas trading range for the day is 217.9-228.9.
Natural gas slipped on forecasts for less hot weather and a reduction in the amount of gas power generators
Prices were down on rising output and lower liquefied natural gas (LNG) exports despite near-record pipeline exports to Mexico.
U.S. speculators boosted their net long futures and options positions last week for the fourth time in five weeks.
U.S. pipeline exports to Mexico, meanwhile, averaged 6.54 bcfd so far in June, which would top the 6.11-bcfd average in May.
BUY NAT GAS JUN 2021 @ 218.00 SL 212.00 TGT 224.00-226.50.MCX
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