Sell Crudeoil Jul @ 6850 SL 6950 TGT 6750-6650. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6681-6961.
Crude oil settled flat as surprise build in U.S. stockpiles fuelled fears about slow demand
Money managers cut their net long U.S. crude futures and options positions in the week to June 18
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 226,000 barrels in the week, the EIA said.
U.S. gasoline stocks rose by 2.7 million barrels in the week to 233.9 million barrels, the EIA said.
SELL CRUDEOIL JUL @ 6850 SL 6950 TGT 6750-6650. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 208.5-235.5.
Natural gas fell on signs producers were slowly boosting output to meet rising summer demand.
US utilities added 52 billion cubic feet of gas into storage
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.
SELL NATURALGAS JUL @ 220 SL 224 TGT 216-212. MCX
