SELL CRUDEOIL JUN @ 5570 SL 5650 TGT 5480-5400. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL JUN @ 5570 SL 5650 TGT 5480-5400. MCX
Observations
Crudeoil trading range for the day is 5326-5666.
Crude oil rises as strong US jobs data eases economic worries, boosts demand view.
US–China trade talks are expected within a week, lifting market sentiment.
Canadian wildfires disrupted about 7% of oil output, though rainfall has recently helped contain the situation.
Saudi Arabia signaled a push for a major OPEC+ output hike—at least 411,000 bpd in August.
NATURALGAS
SELL NATURALGAS JUN @ 328 SL 334 TGT 320-315. MCX
Observations
Naturalgas trading range for the day is 309.5-335.3.
Natural gas prices fell due to rising daily output and reduced LNG export flows Fast-growing amounts of gas in storage also kept pressure on prices.
U.S. gas storage levels are now 5% above seasonal norms, pressuring prices further.
A record-tying seventh straight week of 100+ bcf storage injections is expected—last seen in June 2014.
