BUY Nat Gas MAY 2021 @ 216.00 SL 212.00 TGT 222.00-224.50.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4715-4943.
Crude oil gained lifted by European economic reopenings and rising U.S. demand after prices fell earlier due to surging coronavirus cases in Asia
The British economy reopened, giving 65 million people a measure of freedom after a fourmonth COVID-19 lockdown.
IEA sees oil demand recovery outpacing growth in supply
Kazakhstan's oil output up 0.3% m/m in April, above OPEC+ quota
SELL CRUDEOIL MAY 2021 @ 4720 SL 4810 TGT 4620-4560.MCX
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NATURAL GAS
* Natural gas trading range for the day is 213.2-240.
* Natural gas jumped on forecasts for warmer weather over the next two weeks that is expected to prompt power generators to burn more gas
*Speculators, meanwhile, 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 90.9 bcfd so far in May, up from 90.6 bcfd in April
* With the weather warming, projected average gas demand, would rise from 82.4 bcfd this week to 85.8 bcfd next week
BUY NAT GAS MAY 2021 @ 216.00 SL 212.00 TGT 222.00-224.50.MCX
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