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Crudeoil

Observations

Crudeoil trading range for the day is 6705-6863.

Crude oil prices edged lower pressured by a stronger dollar

U.S. crude and gasoline inventories fall

U.S. oil demand on the rise as summer begins

Israel-Lebanon tensions ratchet up

SELL CRUDEOIL JUL @ 6820 SL 6900 TGT 6720-6720. MCX

Naturalgas

Observations

Naturalgas trading range for the day is 234.4-249.8.

Natural gas slid amid increase in output and forecasts for less demand

Speculators increased net long futures and options positions on the New York Mercantile and Intercontinental Exchanges.

Gas output in Lower 48 U.S. states rose to an average of 98.5 billion cubic feet per day in June.

Daily output is expected to fall by about 3.0 bcfd to a preliminary one-week low of 97.4 bcfd on Tuesday.

SELL NATURALGAS JUL @ 242 SL 246 TGT 236-232. MCX