Buy Nat Gas May 2021 @ 214.00 SL 209.00 TGT 220.00-224.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4645-4887.
Crude oil prices gained after a report from the OPEC that said demand will rise by 5.95 mbpd or 6.6% this year
Colonial Pipeline, transports more than 2.5 mbpd said that it was working to restore much of its operations by the end of the week.
Russia's May 1 – 10 oil output rises to 10.51 mln bpd
Global renewable energy grew at fastest pace in two decades in 2020 – IEA
BUY CRUDEOIL MAY 2021 @ 4740 SL 4680 TGT 4820-4860.MCX
NATURAL GAS
Natural gas trading range for the day is 209.9-221.9.
Natural gas followed the oil market higher despite forecasts for lower demand over the next two weeks than previously expected.
Traders also noted prices were down with a small increase in output and a small decline in exports
Speculators boosted their net long gas futures and options positions on the NYMEX and ICE to their highest since early March.
Data provider Refinitiv said gas output in the Lower 48 U.S. states averaged 91.0 billion cubic feet per day (bcfd) so far in May
BUY NAT GAS MAY 2021 @ 214.00 SL 209.00 TGT 220.00-224.00.MCX
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