Buy Crude Oil JUL @ 6600 SL 6450 TGT 6800-6900. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL JUL @ 6600 SL 6450 TGT 6800-6900. MCX
Observations
Crudeoil trading range for the day is 6513-6855.
Crude oil rose after attacks by the U.S. and Iran underscored the fragility of their interim peace deal.
Iran and the U.S. agreed to renew talks over the strait, raising hopes of saving the peace deal.
Saudi oil giant Aramco resumed crude oil loadings at its Ras Tanura terminal, after they were halted for nearly four months.
Money managers cut their net long U.S. crude futures and options positions in the week to June 23 – CFTC
Natural Gas
SELL NATURALGAS JUL @ 305 SL 309 TGT 301-297. MCX
Observations
Naturalgas trading range for the day is 293.2-318.6.
Natural gas fell amid ample amounts of gas in storage.
LSEG projected Lower 48 gas demand would rise to 108.6 bcfd in two weeks
Average LNG feedgas rose to 17.3 bcfd in June from 17.1 bcfd in May
Storage surplus seen widening to 5.9% above five-year norm
