Sell Crudeoil Apr 2021 @ 4500 SL 4580 TGT 4410-4360.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 4355-4517.
Crude oil prices fell after official figures showed a big increase in U.S. gasoline stocks, causing concerns about demand
Oil inventories dropped by 3.5 million barrels last week to nearly 502 million barrels
At the same time, supply is rising across the world with Russian output increasing from average March levels in the first few days of April
Iran may see some sanctions lifted and add to global supplies, with the U.S. and other powers holding talks on reviving a nuclear deal.
SELL CRUDEOIL APR 2021 @ 4500 SL 4580 TGT 4410-4360.MCX
NATURAL GAS
Natural gas trading range for the day is 182.6-191.2.
Natural gas prices dropped on forecasts for milder weather over the next two weeks and a planned decline in LNG exports because of maintenance.
The U.S. Energy Information Administration (EIA) said U.S. utilities added 20 billion cubic feet (bcf) of gas into storage
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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