Sell Natural Gas MAY @ 295 SL 302 TGT 285-280. MCX - Kedia Advisory
CRUDE OIL
BUY CRUDEOIL JUN @ 5300 SL 5220 TGT 5380-5450. MCX
Observations
Crudeoil trading range for the day is 5230-5426.
Crude oil gains due to uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks
Iran says nuclear talks could break down if US insists on no enrichment
China's cautious economic outlook capped oil gains despite its status as top importer.
Kazakhstan's oil production has risen by 2% in May.
NATURAL GAS
SELL NATURALGAS MAY @ 295 SL 302 TGT 285-280. MCX
Observations
Naturalgas trading range for the day is 258.3-308.5.
Natural gas rose as output declined and demand forecasts for next week were revised higher.
Lower 48 gas production dropped to 103.9 bcfd in May, down from April’s 105.8 bcfd.
Daily output hit a one-week low of 103.4 bcfd, further supporting prices.
Gas demand, including exports, is forecast to fall but remains above Monday’s outlook.
