Buy Naturalgas Jul @ 296 SL 290 TGT 302-306. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL JUL @ 5660 SL 5760 TGT 5560-5460. MCX
Observations
Crudeoil trading range for the day is 5482-5774.
Crude oil falls as Russia signals openness to output hike at upcoming OPEC+ meeting.
OPEC output already elevated; U.S. shale production remains at record highs.
EIA: U.S. crude inventories fall 5.8 million barrels; Cushing stocks hit February low.
Market eyes OPEC+ meeting on July 6 to set August production policy.
NATURAL GAS
BUY NATURALGAS JUL @ 296 SL 290 TGT 302-306. MCX
Observations
Naturalgas trading range for the day is 283.4-319.4.
Natural gas prices fall on rising U.S. output and robust storage injections.
Lower 48 production averages 105.5 bcfd in June, slightly above May.
Storage levels remain ~6% above five-year average despite recent heatwave.
Storage surplus since mid-April continues to weigh heavily on market sentiment.
