BUY NATURALGAS JUN @ 305 SL 300 TGT 310-315. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL JUN @ 9000 SL 8800 TGT 9250-9450. MCX
Observations
Crudeoil trading range for the day is 8935-9443.
Crude oil rose as ongoing uncertainty surrounding US-Iran peace negotiations and renewed conflict in the Middle East.
Gulf hostilities flared again as Iranian attacks on Kuwait damaged its airport and injured dozens
IEA sees possibility of critically low stockpiles ahead of peak summer demand
China is expected to tap deeper into its record crude oil inventories as refiners cut imports further while maintaining output curbs.
Natural Gas
BUY NATURALGAS JUN @ 305 SL 300 TGT 310-315. MCX
Observations
Naturalgas trading range for the day is 297.6-318.
Natural gas gained as gas production averaged 108.8 bcfd so far in June, down from 109.7 bcfd in May.
Support also seen amid weather forecasts pointing to mostly above-normal temperatures through June 17.
Trump says gas prices in US would come down when Iran war ends
Average feedgas flows to major LNG export facilities declined from 17.1 bcfd in May to 16.0 bcfd in early June.
