SELL NATURALGAS JUL @ 302 SL 307 TGT 295-290. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL JUL @ 5850 SL 5950 TGT 5750-5650. MCX
Observations
Crudeoil trading range for the day is 5606-6076.
Crude oil dropped amid concerns that US tariffs could weigh on economic growth and curb oil demand.
Investors eyed further U.S. sanctions on Russia that may affect global supplies
China’s crude oil imports rebounded in June and were up month-on-month and year-on-year.
Crude oil speculators cut net long position by 29,318 contracts to 85,746 in week to July 8 - CFTC
NATURAL GAS
SELL NATURALGAS JUL @ 302 SL 307 TGT 295-290. MCX
Observations
Naturalgas trading range for the day is 283.3-309.3.
Natural gas rose driven by rising LNG export flows and forecasts for hotter-than-average weather
Gas flows to the eight major US LNG export plants averaged 15.6 bcfd in July so far.
Warmer weather forecasts across the Lower 48 states suggest higher cooling demand will persist.
Natural gas speculators raise net long position by 20,219 contracts to 236,173 in week to July 8 - CFTC
