Buy Crudeoil Jun @ 7300 SL 7500 TGT 7050-6900. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL JUN @ 7300 SL 7500 TGT 7050-6900. MCX
Observations
Crudeoil trading range for the day is 6803-7835.
Crude oil fell as markets weighed prospects for a resumption of supplies through Hormuz alongside weaker physical demand
OPEC again lowers 2026 global oil demand growth forecast
Goldman Sachs lowers Q4 2026 average Brent crude oil price forecast to $80/bbl
Morgan Stanley lowers Q4 Brent oil price forecasts after US – Iran peace deal
Natural Gas
BUY NATURALGAS JUN @ 302 SL 297 TGT 307-310. MCX
Observations
Naturalgas trading range for the day is 291.5-315.9.
Natural gas prices rose supported by signs of a rebound in LNG export activity.
Flows to LNG export terminals increased 13.2% week-on-week, reaching a six-week high of 19.3 bcfd.
Expectations of stronger cooling demand as temperatures rise into early July also supported prices.
US natural gas inventories stood at 2.686 trillion cubic feet as of June 5, about 6% above the five-year seasonal average.
