Buy Crudeoil Apr 2021 @ 4430 SL 4370 TGT 4480-4520.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4357-4583.
Crude oil prices fell as shipping traffic resumed through the Suez Canal after days on hold and attention switched to an OPEC+ meeting this week
Saudi wants OPEC+ to extend oil cuts into May-June
Goldman expects OPEC+ to keep May oil output unchanged
Speculators cut U.S. crude oil net longs-CFTC
BUY CRUDEOIL APR 2021 @ 4430 SL 4370 TGT 4480-4520.MCX
Natural gas
Natural gas trading range for the day is 187.6-200.
Natural gas settled flat as projections for milder weather tempered the outlook for heating demand, overshadowing record liquefied natural gas (LNG) exports.
EIA said U.S. utilities pulled 36 billion cubic feet (bcf) of gas from storage during the week ended March 19.
Refinitiv projected average gas demand, including exports, would rise from 98.6 bcfd this week to 99.4 bcfd next week
Output in the Lower 48 U.S. states averaged 91.1 bcfd so far in March, up sharply from a 28-month low of 86.5 bcfd in February
BUY NAT GAS APR 2021 @ 191.00 SL 186.00 TGT 196.00-198.50.MCX
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