BUY NATURALGAS JUN @ 293 SL 288 TGT 299-303. MCX - Kedia Advisory
CRUDE OIL
BUY CRUDEOIL JUN @ 5200 SL 5140 TGT 5270-5350. MCX
Observations
Crudeoil trading range for the day is 5050-5366.
Crude oil dropped after reports OPEC+ may discuss oil output hike larger than 411,000 bpd for July.
Kazakhstan's statement that it won't cut production has sparked debate in OPEC+.
U.S. crude stocks fell 2.795 million barrels, defying expectations of a build.
IEA cut 2025 oil demand growth outlook citing EV sales, economic headwinds.
NATURAL GAS
BUY NATURALGAS JUN @ 293 SL 288 TGT 299-303. MCX
Observations
Naturalgas trading range for the day is 288.4-309.6.
Natural gas eased as forecasts for less demand than previously expected
The U.S. EIA said energy firms added 101 billion cubic feet of gas to storage.
LSEG sees Lower 48 gas output averaging 105.0 bcfd in May, down from April.
Daily gas output slipped to 104.3 bcfd Thursday, less than previously projected.
