BUY CRUDEOIL JUN @ 8800 SL 8600 TGT 9000-9200. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL JUN @ 8800 SL 8600 TGT 9000-9200. MCX
Observations
Crudeoil trading range for the day is 8575-9313.
Crude oil fell after a ceasefire deal between Israel and Lebanon boosted hopes for a broader agreement to end war.
U.S. President Donald Trump suggested there could be progress in negotiations with Iran as soon as this weekend.
US energy firms pull crude from SPR for 10th week, stocks fall to lowest since Jan 2024, EIA says
Russia's Novak meets Saudi oil minister, says demand outlook is unclear
Natural Gas
SELL NATURALGAS JUN @ 324 SL 330 TGT 318-312. MCX
Observations
Naturalgas trading range for the day is 303-332.2.
Natural gas climbed on forecasts for warmer weather and higher demand and a continued drop in output in recent days.
Average gas output in the U.S. Lower 48 states dropped to 108.5 bcfd so far in June, down from 109.7 bcfd in May
Output fell by 3.1 bcfd over the past six days to a preliminary four-month low of 107.4 bcfd due mostly to declines in Texas and Arkansas.
U.S. natural gas prices at the Henry Hub benchmark in Louisiana will rise to an average of $3.92 per mmBtu in 2026.
