Buy Crudeoil Apr 2022 @ 8200 SL 7980 TGT 8500-8650.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 8122-9144.
Crude oil rose supported by disruption to Russian and Kazakh crude exports via the CPC pipeline.
Caspian Pipeline Consortium CPC exports stopped fully and repairs will take at least one and a half months, according to a port ship agent.
U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said
Data from the API showed U.S. crude stocks fell by 4.3 million barrels for the week ended March 18
BUY CRUDEOIL APR 2022 @ 8200 SL 7980 TGT 8500-8650.MCX
NATURAL GAS
Natural gas trading range for the day is 379.9-415.9.
Natural gas climbed on forecasts for cooler weather and higher heating demand over the next two weeks than previously expected.
Meteorologists forecast weather in the United States would remain milder than normal through at least early April
EIA said utilities pulled 79 billion cubic feet (bcf) of gas from storage during the week ended March 11.
Last week's withdrawal cut stockpiles to 1.440 trillion cubic feet (tcf), or 17.4% below the five-year average of 1.744 tcf for this time of the year.
BUY NAT GAS MAR 2022 @ 388.00 SL 378.00 TGT 400.00-408.00.MCX
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