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CRUDEOIL

Crude oil trading range for the day is 8458-9130.

Crude oil prices rose on signs of tight supply while the EU wrangles with Hungary over plans to ban imports from Russia.

Russia's Novak expects oil output to shrink up to 8.4% this year

Crude inventories fell by 1 million barrels in the week to May 20 to 419.8 million barrels

Investors are pricing in the prospect of rising demand from the summer driving season that starts this weekend.

SELL CRUDEOIL JUN 2022 @ 8950 SL 9120 TGT 8750-8650.MCX

NATURAL GAS

Natural gas trading range for the day is 671.4-752.6.

Natural gas gained on a reduction in daily output and an increase in fuel flowing to liquefied natural gas (LNG) export plants.

Prospects of increasing demand for cooling as the weather turns hotter in the United States could drive prices higher

EIA data showed US natural gas stocks rose by 80 billion cubic feet (bcf) last week

Data provider Refinitiv said average gas output in the U.S. Lower 48 states has climbed to 94.9 billion cubic feet per day (bcfd) so far in May

SELL NAT GAS JUN 2022 @ 720.00 SL 745.00 TGT 690.00-670.00.MCX

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