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Crudeoil

BUY CRUDEOIL JUN @ 5660 SL 5560 TGT 5760-5840. MCX

Observations

Crudeoil trading range for the day is 5455-5889.

Crude oil rose as U.S. President Donald Trump said a deal had been done with China.

Oil demand growth will remain robust over the next two and a half decades as the world population grows.

U.S. President Donald Trump said that Iran has become "much more aggressive" in nuclear talks.

Supplies will increase though as OPEC+ plans to increase oil production by 411,000 bpd in July.

Naturalgas

BUY NATURALGAS JUN @ 296 SL 292 TGT 302-306. MCX

Observations

Naturalgas trading range for the day is 287.6-316.2.

Natural gas eased on forecasts for less demand next week

Cameron LNG shows signs of resuming output after recent maintenance-related reductions.

Storage levels are 5% above average; another triple-digit injection expected.

U.S. natural gas output and demand will both rise to record highs in 2025, the U.S. EIA said.