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CRUDEOIL

SELL CRUDEOIL JUL @ 5750 SL 5850 TGT 5650-5550. MCX

Observations

Crudeoil trading range for the day is 5643-5819.

Crude oil softens on US tariff uncertainty and OPEC+ output expectations

OPEC+ is expected to agree to raise output by 411,000 bpd at its policy meeting this weekend.

A surprise build in U.S. crude inventories also highlighted demand concerns.

Crude inventories rose by 3.8 million barrels to 419 million barrels last week - EIA

NATURAL GAS

BUY NATURALGAS JUL @ 288 SL 283 TGT 294-298. MCX

Observations

Naturalgas trading range for the day is 282.6-310.4.

Natural gas fell after EIA data showed the 11th straight week of above-average storage injections.

US storage rose by 55 bcf last week, beating expectations but below five-year average.

Meanwhile, hotter mid-July forecasts are expected to drive up air-conditioning demand and gas-fired power usage.

LNG export activity is also picking up, with average flows to the eight major US LNG plants rising to 15.4 bcfd in early July