Crudeoil trading range for the day is 4295-4413.
Crude oil dropped after U.S. drilling activity rose and fears waned about escalating tensions in the Middle East following air strikes on Syria over the weekend.
Kuwait says market conditions to determine any extension of OPEC – led cut deal.
OPEC Sec-gen Says oil producers, companies must invest to meet future oil demand, compensate for annual decline rate.
OPEC Sec-Gen says oil inventories in Feb below 50 million barrels above 5-year-average, decline trend to continue in coming months.
SELL CRUDE OIL BELOW 4355 SL ABV 4400 TGT 4318-4275. MCX (STBT).
Naturalgas trading range for the day is 177.9-183.5.
Natural gas prices gained as lingering winter-like weather was seen delaying the official start of the storage injection season.
U.S. natural gas storage is expected to end the April-October injection season at a belownormal 3.671 tcf, lowest since the end of October in 2014.
Total natural gas in storage currently stands at 1.335 trillion cubic feet (tcf), according to the U.S. Energy Information Administration.
Record high domestic production levels have overshadowed the fact that stocks in storage are well below their seasonal averages for this time of year.
BUY NAT GAS APR 2018 @ 180.00 SL 178.00 TGT 182.50-184.00.MCX.
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