Buy Crudeoil Jun @ 6250 SL 6150 TGT 6350-6450. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL JUN @ 6250 SL 6150 TGT 6350-6450. MCX
Observations
Crudeoil trading range for the day is 5888-6664.
Crude oil rose, reaching their highest level since February amid fears of supply disruptions following Israel’s strike against Iran.
OPEC sees no need for unnecessary measures in oil market
Goldman Sachs assumes no disruption to oil supply in the Middle East
EIA data showed US crude stocks fell more than expected last week, signaling strong demand.
Naturalgas
BUY NATURALGAS JUN @ 305 SL 300 TGT 312-318. MCX
Observations
Naturalgas trading range for the day is 298.8-313.4.
Natural gas gained tracking broader gains across energy markets amid escalating tensions in the Middle East.
Storage levels have improved since a colder-than-expected winter depleted inventories.
According to the EIA, the week ending June 6 saw another triple-digit storage build.
U.S. natural gas storage is on track to end the April-October summer injection season at a three-year low of 3.784 tcf.
