Buy Crudeoil Mar 2021 @ 4750 SL 4660 TGT 4840-4890.MCX - Kedia Advisory
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Curde Oil
Crude oil trading range for the day is 4736-4856.
Crude oil prices steadied as production cuts by major oil producers constrained supply
OPEC expects most of 2021 oil demand recovery in second half
OPEC said demand will rise by 5.89 million barrels per day (bpd) in 2021, or 6.5%, up slightly from last month.
Global oil inventories to become tight by mid-2021
BUY CRUDEOIL MAR 2021 @ 4750 SL 4660 TGT 4840-4890.MCX
Natural Gas
Natural gas trading range for the day is 185.1-198.9.
Natural gas fell after forecasts called for milder weather and lower demand through late March than previously expected
U.S. natural gas production will edge up in 2021, while demand declines for a second year in a row
The EIA projected dry gas production will rise to 91.35 billion cubic feet per day (bcfd) in 2021 and 92.83 bcfd in 2022
EIA’s projections for 2021 in March were higher than its February forecasts of 90.50 bcfd for supply and 81.71 bcfd for demand.
BUY NAT GAS MAR 2021 @ 192.00 SL 188.00 TGT 197.50-200.00.MCX
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