SellCrudeoil JUN 2021 @ 4820 SL 4900 TGT 4700-4635.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4734-4890.
Crude oil prices remained under pressure amid worries that a possible return of Iranian supply could cause a glut.
Global oil deficit seen at 1 mln bpd, Russia's Novak says
U.S. crude oil and fuel inventories fell last week, according to American Petroleum
Saudi oil exports in March rise to $14 billion
SELL CRUDEOIL JUN 2021 @ 4820 SL 4900 TGT 4700-4635.MCX
NATURAL GAS
Natural gas trading range for the day is 215.7-222.9.
Natural gas rose on expectations that surging global prices will boost U.S. exports back to record highs in coming weeks.
That U.S. price gain came despite forecasts for milder weather and lower demand over the next two weeks than previously expected.
Speculators, meanwhile, boosted their net long gas futures and options positions for a third week in a row last week for the first time since February.
Gas output in the Lower 48 U.S. states averaged 90.9 billion cubic feet per day (bcfd) so far in May, up from 90.6 bcfd in April
SELL NAT GAS JUN 2021 @ 222.50 SL 228.00 TGT 216.50-212.50.MCX
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