Buy Natural Gas JUN @ 232 SL 228 TGT 237-242. MCX - Kedia Advisory
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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
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