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Crudeoil

Observations

Crudeoil trading range for the day is 6225-6623.

Crude oil prices rose buoyed by hopes of rising fuel demand this summer.

Though gains were capped by a strengthening of the dollar on receding expectations of imminent cuts to U.S. interest rates.

U.S. jobs data dampens hope for near-term interest rate cuts

Goldman Sachs forecasts Brent rise to $86 in third quarter

BUY CRUDEOIL JUN @ 6420 SL 6320 TGT 6520-6620. MCX

Naturalgas

Observations

Naturalgas trading range for the day is 229.4-265.2.

Natural gas fell on profit booking after prices rose amid a recent drop in daily output

Additionally, gas flow to LNG export facilities has been on the rise.

US utilities added 98 billion cubic feet of gas into storage

Gas output in the Lower 48 U.S. states has slipped to an average of 98.0 billion cubic feet per day (bcfd) so far in June

BUY NATURALGAS JUN @ 240 SL 236 TGT 245-250. MCX