Sell Nat Gas Jun 2022 @ 620.00 SL 640.00 TGT 590.00-570.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 8935-9433.
Crude oil dropped as investors reacted to a bearish report from IEA pointing to slowing demand and rising output.
IEA: Oil demand growth set to be slowed by higher prices and a weaker economic outlook.
IEA forecasts world oil demand to reach 101.6 mln bpd in 2023, surpassing pre-pandemic levels.
US officials are planning to apply a 21% surtax on oil company profits considered excessive
SELL CRUDEOIL JUN 2022 @ 9300 SL 9450 TGT 9050-8950.MCX
NATURAL GAS
Natural gas trading range for the day is 548.2-624.2.
Natural gas rebounded as focus returned to soaring demand amid heat waves
Goldman Sachs raised its summer Henry Hub prices forecasts to $7.15 per MMBtu from $6.80 previously.
U.S. storage is currently about 15%, or 340 bcf, below normal levels for this time of year, its lowest since April 2019
The Freeport restart could take 90 days rather than the initial three-week estimate
SELL NAT GAS JUN 2022 @ 620.00 SL 640.00 TGT 590.00-570.00.MCX
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