Sell Nat Gas JUN 2022 @ 740.00 SL 760.00 TGT 705.00-685.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 8828-9478.
Crude oil gains on doubts that producers belonging to OPEC+ can hike their crude output enough to make up for lost supply from Russia.
U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said
US East Coast distillate stocks fall to lowest on record – EIA
U.S. oil output rises 3% in March to highest since November
SELL CRUDEOIL JUN 2022 @ 9300 SL 9450 TGT 9120-9000.MCX
NATURAL GAS
Natural gas trading range for the day is 667.4-756.4.
Natural gas jumped on forecasts for hotter weather and higher demand than previously expected
Support also seen amid a decline in output, rising liquefied natural gas (LNG) exports and record power demand in Texas.
Average gas output in the U.S. Lower 48 states fell to 94.7 billion cubic feet per day (bcfd) so far in June from 95.1 bcfd in May.
The U.S. EIA said utilities added 90 billion cubic feet (bcf) of gas to storage during the week ended May 27.
SELL NAT GAS JUN 2022 @ 740.00 SL 760.00 TGT 705.00-685.00.MCX
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