Sell Naturalgas May @ 295 SL 302 TGT 285-280. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL JUN @ 5350 SL 5450 TGT 5250-5150. MCX
Observations
Crudeoil trading range for the day is 5154-5508.
Crude oil dropped after a surprise build in US crude inventories.
Geopolitical risks limited losses amid reports of Israel preparing to strike
Iran Crude inventories rose by 1.3 million barrels to 443.2 million barrels, the EIA said.
U.S. gasoline stocks rose by 816,000 barrels to 225.5 million barrels, the EIA said.
Naturalgas
SELL NATURALGAS MAY @ 295 SL 302 TGT 285-280. MCX
Observations
Naturalgas trading range for the day is 277.8-306.8.
Natural gas fell on a smaller than previously expected decline in daily output so far this month.
Gas stockpiles were already around 3% above the five-year (2020-2024) average.
Average gas output in the Lower 48 U.S. states fell to 104.9 bcfd so far in May
Meteorologists projected the weather would remain mostly warmer than normal through June 6.
