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 8014-8662.
Crude oil fell after reports that the U.S. and Iran had reached agreement on a potential ceasefire extension.
Oil output at Kazakhstan's Tengiz field shrank to 5,000-10,000 metric tons a day after an accident
Saudi Arabia is likely to cut its official selling prices (OSPs) for crude oil to Asia in July for a second month.
Commerzbank raised its Brent forecasts to $90 a barrel by the end of September and $85 by the end of the year.
Natural Gas
BUY NATURALGAS JUN @ 315 SL 310 TGT 320-325. MCX
Observations
Naturalgas trading range for the day is 307.7-326.5.
Natural gas climbed on forecasts for warmer weather and more air conditioning demand over the next two weeks.
U.S. gas output dips in May, LNG export flows fall due to plant maintenance
EIA said energy firms added 92 billion cubic feet (bcf) of gas to storage during the week ended May 22.
Germany says natural gas storage levels have risen to 31%
