Sell Naturalgas Jul @ 320 SL 325 TGT 314-310. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL JUL @ 5650 SL 5750 TGT 5550-5450. MCX
Observations
Crudeoil trading range for the day is 5340-5926.
Crude oil dropped followed President Trump's announcement of a ceasefire between Israel and Iran.
The news eased concerns over potential oil supply disruptions and the closure of the Strait of Hormuz.
IEA had previously reassured markets that it holds 1.2 billion barrels in emergency stockpiles
Some OPEC+ producers have already been increasing output and possess additional spare capacity that could be brought online.
NATURAL GAS
SELL NATURALGAS JUL @ 320 SL 325 TGT 314-310. MCX
Observations
Naturalgas trading range for the day is 305.4-334.2.
Natural gas dropped as rising production and forecasts for an easing heat wave pressured prices.
Average gas output in the Lower 48 states rose to 105.5 bcfd in June, up from 105.2 bcfd in May
Gas flows to the eight major US LNG export plants fell to 14.1 bcfd in June from 15.0 bcfd in May, largely due to seasonal maintenance.
Markets remain wary as a tentative ceasefire between Israel and Iran eases tensions in the energy-rich Middle East.
