Buy Crudeoil Jun @ 7500 SL 7300 TGT 7700-7900. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL JUN @ 7500 SL 7300 TGT 7700-7900. MCX
Observations
Crudeoil trading range for the day is 7306-8106.
Crude oil slipped after President Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war.
US, Iran to sign MOU on peace deal on Friday, Pakistan PM says
OPEC lowered its 2026 global oil demand growth forecast to 970,000 barrels per day from 1.17 million.
Goldman Sachs lowers 2027 average Brent forecast to $80/bbl
Natural Gas
BUY NATURALGAS JUN @ 294 SL 290 TGT 300-304. MCX
Observations
Naturalgas trading range for the day is 282-306.
Natural gas edged up amid improving demand prospects, with a recovery in LNG exports
EIA said energy firms added 108 bcf of gas into storage during the week ended June 5.
Average gas output in U.S. Lower 48 states fell to 109.0 bcfd so far in June, down from 109.7 bcfd in May
The number of rigs drilling for natural gas in the United States fell by 3 in the week to 121.
