Buy Crudeoil May 2022 @ 7600 SL 7480 TGT 7780-7900.MCX - Kedia Advisory
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CRUDEOIL
* Crude oil trading range for the day is 7413-8235.
* Crude oil prices fell as the market balanced impending European Union sanctions on Russian oil with demand concerns in China
* EU members struggle to reach deal on Russian oil ban
* U.S. crude, products inventories likely fell last week Money managers cut their net long
* U.S. crude futures and options positions – CFTC
BUY CRUDEOIL MAY 2022 @ 7600 SL 7480 TGT 7780-7900.MCX
NATURAL GAS
* Natural gas trading range for the day is 479.8-615.4.
* Natural gas dropped as output increases and the weather turns milder than previously forecast.
* U.S. natgas output, demand to rise in 2022 – EIA
* The U.S. EIA said utilities added 77 billion cubic feet (bcf) of gas to storage during the week ended April 29.
* The US is set for temperatures in May that would even be considered hotter-than-normal during summer months
BUY NAT GAS MAY 2022 @ 540.00 SL 510.00 TGT 580.00-600.00.MCX
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