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CRUDE OIL

BUY CRUDEOIL JUN @ 5800 SL 5700 TGT 5900-6000. MCX

Observations

Crudeoil trading range for the day is 5648-5956.

Crude oil rises as U.S. troop moves stir Iran tension fears, supply concerns grow.

Increased tension with Iran has raised the prospect of disruption to oil supplies.

JPMorgan said oil prices could surge to $120-$130 a barrel if the Strait of Hormuz were to be shut.

Iran's Minister of Defense Aziz Nasirzadeh said Iran will strike U.S. bases in the region if talks fail and the U.S. initiates conflict.

NATURAL GAS

BUY NATURALGAS JUN @ 296 SL 292 TGT 302-306. MCX

Observations

Naturalgas trading range for the day is 288.3-317.1.

Natural gas eased on weak demand outlook, output rise, and record storage injection.

Cameron LNG intake rose to 1.5 bcfd, the highest in four weeks.

US utilities added 109 bcf of natural gas to storage from the previous week to 2.707 tcf.

Lower 48 gas output eased to 105.0 bcfd amid seasonal maintenance