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CRUDEOIL

Crude oil trading range for the day is 7115-7889.

Crude oil slumped as concern grew that prolonged COVID-19 lockdowns in Shanghai

Libya's NOC says Zawiya oil refinery damaged after armed clashes

The OPEC member is losing more than 550,000 barrels per day in production because of unrest

U.S. crude exports rose last week to the highest since March 2020, U.S. Energy Information Administration data showed.

BUY CRUDEOIL MAY 2022 @ 7350 SL 7200 TGT 7580-7720.MCX

NATURAL GAS

Natural gas trading range for the day is 478-530.

Natural gas fell hastened by a larger-than-expected weekly storage build.

EIA data showed utilities added 53 billion cubic feet (bcf) of natural gas to storage last week

The number of U.S. gas rigs increased to 144 this week, matching a firgure last touched in early October 2019

However, U.S. gas stockpiles are still currently 16.8% below the five-year (2017-2021) average for this time of year

BUY NAT GAS APR 2022 @ 490.00 SL 478.00 TGT 505.00-520.00.MCX

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