Sell Crudeoil Jun 2021 @ 5200 SL 5260 TGT 5120-5080.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5220-5376.
Crude oil prices pared gains on profit booking amid growing U.S. crude production and Britain's delayed COVID-19 reopening dampened expectations
U.S. crude stocks and distillate inventories fell while gasoline inventories rose, the Energy Information Administration said
U.S. shale oil output to climb by 38,000 bpd in July -EIA
Motor vehicle traffic, increased air travel helping recovery
SELL CRUDEOIL JUN 2021 @ 5200 SL 5260 TGT 5120-5080.MCX
NATURAL GAS
Natural gas trading range for the day is 230.3-243.9.
Natural rose on forecasts for rising exports, hotter weather and higher air conditioning demand over the next two weeks.
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
Gas prices in Europe and Asia both traded over $10 per mmBtu, with the Title Transfer Facility (TTF) in the Netherlands at its highest since January 2014.
BUY NAT GAS JUN 2021 @ 218.00 SL 212.00 TGT 224.00-226.50.MCX
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