Buy Nat Gas Apr 2021 @ 186.00 SL 181.00 TGT 191.00-195.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4387-4499.
Crude oil prices edged down as investors weighed rising supplies from major producers and the impact on fuel demand from the COVID-19 pandemic.
OPEC+ that includes Russia, agreed to gradually increase supplies by 2 million barrels per day between May and July.
The forecast for global oil demand outlook has shifted lower amid renewed lockdowns in parts of the world to curb rising Covid-19 cases and problems with vaccinations.
Russia expects the fallout from the COVID-19 pandemic on the global consumption of oil and oil products may last until 2023-2024
SELL CRUDEOIL APR 2021 @ 4500 SL 4580 TGT 4410-4360.MCX
NATURAL GAS
Natural gas trading range for the day is 185.8-192.6.
Natural gas edged up on forecasts for cooler weather and higher heating demand in midto late-April, the first time in seven weeks prices rose three straight days.
Data provider Refinitiv said output in the Lower 48 U.S. states has averaged 91.9 billion cubic feet per day (bcfd) so far in April
Refinitiv estimated 174 heating degree days (HDDs) over the next two weeks in the lower 48 U.S. states.
Output in the Lower 48 U.S. states averaged 91.1 billion cubic feet per day (bcfd) in March, up sharply from a 28-month low of 86.5 bcfd in February
BUY NAT GAS APR 2021 @ 186.00 SL 181.00 TGT 191.00-195.00.MCX
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