BUY CRUDEOIL JUN @ 9300 SL 9100 TGT 9500-9700. MCX
Crudeoil
BUY CRUDEOIL JUN @ 9300 SL 9100 TGT 9500-9700. MCX
Observations
Crudeoil trading range for the day is 8788-10188
Crude oil dropped after U.S. President Donald Trump said that negotiations with Iran were in the final stages
Crude inventories fell by 7.9 million barrels to 445 million barrels in the week ended May 15, the EIA said
US withdrew nearly 10 mln bbls of oil from the country's SPR last week, the biggest such drawdown on record.
Europe's economy hit hard as energy price shock stifles demand
Natural Gas
BUY NATURALGAS MAY @ 288 SL 284 TGT 292-296. MCX
Observations
Naturalgas trading range for the day is 284.1-298.5.
Natural gas dropped after reports U.S. EIA added 101 billion cubic feet of gas to storage.
Flows to major US LNG export facilities have declined from a monthly record of 18.8 bcfd in April to around 17.0 bcfd so far in May.
Three US LNG vessels are reportedly scheduled to arrive in China in June, the first such shipments since February 2025.
U.S. natural gas storage is on track to end the April-October summer injection season at a 10-year high of 3.945 tcf on October 31, 2026.
