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2025-07-07 10:03:49 am | Source: Kedia Advisory
Sell Crudeoil Jul @ 5700 SL 5780 TGT 5620-5550. MCX - Kedia Advisory
Sell Crudeoil Jul @ 5700 SL 5780 TGT 5620-5550. MCX - Kedia Advisory

CRUDEOIL

SELL CRUDEOIL JUL @ 5700 SL 5780 TGT 5620-5550. MCX

Observations

Crudeoil trading range for the day is 5611-5775.

Crude oil fell on expectations OPEC+ will raise output at upcoming meetings.

OPEC+ speeds up oil output hikes, adds 548,000 bpd in August

OPEC output rose 270,000 bpd in June, led by Saudi Arabia’s larger production increase.

Barclays raises Brent forecast to $72 per barrel for 2025

 

NATURAL GAS

SELL NATURALGAS JUL @ 292 SL 297 TGT 286-282. MCX

Observations

Naturalgas trading range for the day is 285.5-296.5.

Natural gas fell after EIA data showed the 11th straight week of above-average storage injections.

US storage rose by 55 bcf last week, beating expectations but below five-year average.

Meanwhile, hotter mid-July forecasts are expected to drive up air-conditioning demand and gas-fired power usage.

LNG export activity is also picking up, with average flows to the eight major US LNG plants rising to 15.4 bcfd in early July

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