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CRUDEOIL

SELL CRUDEOIL AUG @ 6200 SL 6280 TGT 6120-6030. MCX

Observations

Crudeoil trading range for the day is 5927-6309.

Crude oil rose on supply concerns from US-Russia tensions

Trump vows sanctions unless Russia makes progress on peace deal

China warned of tariffs if it continues buying Russian oil

API data showed surprise 1.5 million-barrel US inventory build

NATURALGAS

SELL NATURALGAS AUG @ 272 SL 278 TGT 265-260. MCX

Observations

Naturalgas trading range for the day is 257.4-285

Natural gas dropped amid higher production and forecasts for milder weather

LSEG said average gas output in the Lower 48 has risen to 107.5 billion cubic feet per day so far in July.

LSEG forecast average gas demand in the Lower 48, falling from 113 bcfd this week to 108 bcfd next week.

Gas inventories remain 6% above seasonal norms, signaling ongoing oversupply.