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CRUDEOIL

Observations

Crudeoil trading range for the day is 6507-6715.

Crude oil gains as the prospect of OPEC+ maintaining oil supply curbs

Summer fuel demand hopes support prices

Higher-for-longer US interest rates seen limiting gains

OPEC+ meets on June 2 to set output policy

BUY CRUDEOIL JUN @ 6580 SL 6500 TGT 6670-6750. MCX

NATURALGAS

Observations

Naturalgas trading range for the day is 225.1-241.1.

Natural gas prices rose due to forecasts for increased demand and more gas flowing to LNG export plants

However, gains were limited amid signs of increased gas production from some drillers and oversupply in storage

Daily output increased by about 1.5 billion cubic feet per day since a 15-week low of 96.2 billion on May 1.

Meteorologists projected warmer weather across the Lower 48 states from May 24-28 and June 3-8

BUY NATURALGAS JUN @ 232 SL 228 TGT 237-242. MCX