BUY NATURALGAS JUN @ 286 SL 280 TGT 292-298. MCX
Crudeoil
BUY CRUDEOIL JUN @ 8600 SL 8400 TGT 8800-9000. MCX
Observations
Crudeoil trading range for the day is 8379-9003.
Crude oil dropped as optimism grew that the United States and Iran were moving closer to a peace deal.
Washington cites progress in Iran conflict resolution
Trump says there is no rush for Iran deal, US blockade stays
Two LNG, one crude tanker cross Strait in recent days, shipping data show
Natural Gas
BUY NATURALGAS JUN @ 286 SL 280 TGT 292-298. MCX
Observations
Naturalgas trading range for the day is 281.1-302.1.
Natural gas gains on forecasts for more demand than previously expected and a drop in output in recent weeks.
EIA report showed energy firms injected 101 bcf of gas into storage, above market expectations for a 95-bcf build.
Flows to major US LNG export facilities declined from a monthly record of 18.8 bcfd in April to around 17.0 bcfd so far in May.
Goldman Sachs sees China's natgas destocking boosting LNG imports ahead of winter
