Sell Crudeoil Jun @ 5500 SL 5600 TGT 5400-5300. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL JUN @ 5500 SL 5600 TGT 5400-5300. MCX
Observations
Crudeoil trading range for the day is 5296-5558.
Crude oil gains as ongoing geopolitical tensions fueled concerns over tighter global supply.
Canada wildfire shuts oil output in Alberta, deepening supply concerns OPEC+ kept output increases in July at the same level as the previous two months
US crude oil output hit record high in March, while demand fell - EIA
Naturalgas
SELL NATURALGAS JUN @ 324 SL 330 TGT 316-310. MCX
Observations
Naturalgas trading range for the day is 306.5-329.3.
Natural gas rose on stronger demand, falling output, and broader energy market rally.
Warmer weather forecasts boosted expectations for higher air conditioning-related gas demand.
U.S. gas production declined due to seasonal pipeline maintenance, notably Permian Highway work.
LNG feedgas deliveries dropped due to outages at major U.S. export terminals.
