Buy Crudeoil Apr 2022 @ 8450 SL 8280 TGT 8700-8850.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7686-8708.
Crude oil dropped as China began its most extensive lockdown in two years, raising concerns over weaker fuel demand.
U.S. oil exports surge, drawing crude away from storage hub
UAE will work with OPEC+ to make sure energy market is stable
Money managers raised their net long U.S. crude futures and options positions in the week to March 22
BUY CRUDEOIL APR 2022 @ 8450 SL 8280 TGT 8700-8850.MCX
NATURAL GAS
Natural gas trading range for the day is 406.7-441.9.
Natural gas slid on a drop in crude prices and a small decline in demand next week that should allow utilities to inject gas into storage.
That price decline came despite forecasts for colder weather and higher heating demand this week than previously expected
EIA said U.S. utilities pulled 51 billion cubic feet (bcf) of gas from storage during the week ended March 18.
Average gas output in the U.S. lower 48 states was on track to rise to 93.3 bcfd in March from 92.5 bcfd in February
BUY NAT GAS APR 2022 @ 420.00 SL 405.00 TGT 436.00-445.00.MCX
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