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Crudeoil

Observations

Crudeoil trading range for the day is 6655-6913.

Crude oil firmed as traders balanced expectations of increased summer demand and geopolitical tensions

U.S. crude and gasoline inventories fall

U.S. oil demand on the rise as summer begins

Israel-Lebanon tensions ratchet up

BUY CRUDEOIL JUL @ 6760 SL 6660 TGT 6860-6920. MCX

Naturalgas

Observations

Naturalgas trading range for the day is 217-239.

Natural gas increased due to forecasts of hot weather and cooling demand.

However, upside seen limited as producers ramp up output to meet increased demand

Gas output in Lower 48 states rose to an average of 98.4 bcfd in June, up from a 25-month low in May.

Meteorologists predict hotter weather across the Lower 48 states through July 9

BUY NATURALGAS JUN @ 226 SL 222 TGT 232-236. MCX