Sell Natural gas JUN 2022 @ 555.00 SL 575.00 TGT 525.00-510.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7931-8529.
Crude oil prices dropped as investors worried that aggressive U.S. interest rate hikes could trigger a recession and dent fuel demand.
API shows crude, gasoline stocks rise; distillate stocks fall
Saudi Arabia's April crude oil exports hit two – year high
U.S. crude oil refining capacity fell by 126,000 bpd in 2021 – EIA
SELL CRUDEOIL JUL 2022 @ 8450 SL 8550 TGT 8300-8200.MCX
NATURAL GAS
Natural gas trading range for the day is 451.1-557.7.
Natural gas eased on forecasts for less demand and a drop in liquefied natural gas (LNG) exports with the Texas Freeport plant shut down.
That price decline came despite record power demand in Texas and a slow slide in daily gas output.
On a daily basis, output was on track to drop to 10.3 bcfd on Wednesday, the lowest since November 2021
Average gas output in the U.S. Lower 48 states slid to 94.9 bcfd so far in June from 95.2 bcfd in May.
SELL NAT GAS JUN 2022 @ 555.00 SL 575.00 TGT 525.00-510.00.MCX
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