Buy Crudeoil Jun @ 8250 SL 8100 TGT 8450-8600. MCX - Kedia Advisory
CrudeOil
BUY CRUDEOIL JUN @ 8250 SL 8100 TGT 8450-8600. MCX
Observations
Crudeoil trading range for the day is 7937-9013.
Crude oil dropped as investors weighed the impact of supply disruptions
Trump says US will hit Iran 'very hard'
Iran closes Strait of Hormuz, threatens to fire on vessels attempting passage
U.S. crude inventories fell by 7.2 million barrels to 426.5 million in the week ended June 5
Natural Gas
BUY NATURALGAS JUN @ 292 SL 287 TGT 298-302. MCX
Observations
Naturalgas trading range for the day is 284.9-311.7.
Natural gas slid on a slight increase in daily output and expectations gas in storage will remain above normal levels.
LSEG reports slight rise in output, demand to increase with warmer weather
LNG export flows dip due to maintenance at major plants, including Golden Pass and Freeport
Meteorologists forecast the weather will remain mostly warmer than normal through June 26
