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Crudeoil

Observations

Crudeoil trading range for the day is 6685-6905.

Crude oil settled flat as a surprise build in U.S. stockpiles fuelled fears about slow demand from top oil consumer

Money managers cut their net long U.S. crude futures and options positions in the week to June 18

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 226,000 barrels in the week, the EIA said.

U.S. gasoline stocks rose by 2.7 million barrels in the week to 233.9 million barrels, the EIA said.

BUY CRUDEOIL JUL @ 6760 SL 6680 TGT 6840-6900. MCX

Naturalgas

Observations

Naturalgas trading range for the day is 220.1-236.3.

Natural gas fell on signs producers were slowly boosting output to meet rising summer demand.

US utilities added 52 billion cubic feet of gas into storage

Speculators increased net long futures and options positions on the New York Mercantile and Intercontinental Exchanges.

Gas output in Lower 48 U.S. states rose to an average of 98.5 billion cubic feet per day in June.

BUY NATURALGAS JUL @ 222 SL 217 TGT 228-232. MCX