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CRUDEOIL

Crude oil trading range for the day is 4655-4879.

Crude oil prices climbed after a major cyber attack that forced the shutdown of critical fuel supply pipelines in the United States, highlighting the fragility of oil infrastructure

Crude oil output in the U.S. fell 1.197 mln million barrels per day in February to 9.862 million bpd

Russia increased its oil production in April to almost 10.5 million barrels a day

Russian oil output rises 2% in April following OPEC+ deal

SELL CRUDEOIL MAY 2021 @ 4700 SL 4780 TGT 4600-4540.MCX

NATURAL GAS

Natural gas trading range for the day is 210.6-220.6.

Natural gas slipped on forecasts for milder weather and lower heating demand next week than previously expected.

Traders also noted prices were down with a small increase in output and a small decline in exports.

Speculators boosted their net long gas futures and options positions on the NYMEX and ICE to their highest since early March.

Data provider Refinitiv said gas output in the Lower 48 U.S. states averaged 91.0 billion cubic feet per day (bcfd) so far in May

BUY NAT GAS MAY 2021 @ 202.00 SL 196.50 TGT 208.00-210.80.MCX

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