SellNat Gas Jun 2021 @ 222.50 SL 228.00 TGT 216.50-212.50.MCX - Kedia Advisory
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CRUDE OIL
Crude oil trading range for the day is 4730-4916.
Crude oil gained bolstered by strong U.S. economic data that offset investors’ concerns about the potential for a rise in Iranian supplies.
Russia increased its oil production in April to almost 10.5 million barrels a day.
Russian oil output rises 2% in April following OPEC+ deal
Citi predicted OPEC+ would stick to plans to bring back 700,000 barrels per day (bpd) of oil supply in June
SELL CRUDEOIL JUN 2021 @ 4820 SL 4900 TGT 4700-4635.MCX
NATURAL GAS
Natural gas trading range for the day is 207.8-224.
Natural gas dropped following the release of a report showing a bigger-than-expected storage build last week
That price decline came despite the forecasts for slightly more demand over the next two weeks than previously expected
The U.S Energy Information Administration (EIA) said U.S. utilities added 115 billion cubic feet (bcf) of gas into storage during the week ended May 21
U.S. pipeline exports to Mexico, meanwhile, averaged 6.0 bcfd so far in May, just off April's monthly record of 6.1 bcfd, Refinitiv data showed.
SELL NAT GAS JUN 2021 @ 222.50 SL 228.00 TGT 216.50-212.50.MCX
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