Sell Natural Gas Jul 2021 @ 276.00 SL 282.00 TGT 268.00-264.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5381-5791.
Crude oil rose supported by the prospect of strengthening demand, lower U.S. stocks and a report that OPEC+ producers could increase output in the coming months.
Oil demand to gather pace in the second half of the year as more people are vaccinated against COVID-19 and travel restrictions are eased.
In the United States, crude stockpiles fell last week for the sixth straight week in response to rising demand, data from EIA showed.
An OPEC+ panel said it expected oil demand to grow by 6 million bpd in 2021 but flagged risks of a glut in 2022
SELL CRUDEOIL JUL 2021 @ 5520 SL 5600 TGT 5435-5380.MCX
NATURAL GAS
Natural gas trading range for the day is 261.8-285.4.
Natural gas settled flat on a bigger than expected weekly storage build and forecasts for slightly less hot weather
Earlier in the day, gas prices were up on a drop in output due to a pipeline upset and expectations soaring global gas prices
The U.S. EIA said utilities added 76 billion cubic feet (bcf) of gas into storage during the week ended June 25.
Gas output in the Lower 48 U.S. states dropped to a preliminary 85.5 billion cubic feet per day (bcfd)
SELL NAT GAS JUL 2021 @ 276.00 SL 282.00 TGT 268.00-264.00.MCX
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