Buy Crudeoil Jun @ 8350 SL 8150 TGT 8550-8700. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL JUN @ 8350 SL 8150 TGT 8550-8700. MCX
Observations
Crudeoil trading range for the day is 7970-8904.
Crude oil prices fell after Iran and Israel said they had halted attacks on each other.
President Donald Trump urged both sides to deescalate and said talks with Tehran are continuing.
China's oil imports extend decline in May to hit 8 – year low
OPEC+ agreed its fourth increase in oil output in four months.
Natural Gas
BUY NATURALGAS JUN @ 295 SL 291 TGT 299-303. MCX
Observations
Naturalgas trading range for the day is 293.1-310.9.
Natural gas edged up with forecasts for hotter weather and a slow decline in output in recent days.
Hotter weather and output decline expected to boost mid-June gas demand
Waha Hub prices rise but remain negative for record 86 days amid higher demand
Pacific Northwest power prices drop due to abundant hydropower and low demand
