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CRUDEOIL

Crude oil trading range for the day is 4513-4881.

Crude oil gained after industry data showed U.S. oil inventories declined more than expected and OPEC raised its outlook for oil demand.

OPEC raises 2021 oil demand growth forecast on hope pandemic wanes

Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the OPEC forecast in its monthly report

Crude oil and distillate stocks fell in the most recent week, while gasoline inventories rose - API

BUY CRUDEOIL APR 2021 @ 4500 SL 4420 TGT 4580-4640.MCX

NATURAL GAS

Natural gas trading range for the day is 192.9-202.1.

Natural gas pared gains to end with losses as expectations inventories would rise offset near-record exports and forecasts for cooler weather

Output in the Lower 48 U.S. states has averaged 91.8 billion cubic feet per day (bcfd) so far in April, up from 91.6 bcfd in March.

Average gas demand, including exports, would rise from 92.0 bcfd this week to 94.4 bcfd next week as the weather cools.

U.S. natural gas production will edge up in 2021, while demand declines for a second year in a row

BUY NAT GAS APR 2021 @ 194.00 SL 188.00 TGT 200.00-203.80.MCX

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