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CRUDEOIL

Crude oil trading range for the day is 7970-8520

Crude oil rose as outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged on, offsetting concern over slowing Chinese demand

U.S. crude output to rise 820,000 bpd in 2022

Libya halts operations at El Feel oilfield due to protests

U.S. oil drilling, output moving higher with energy prices

BUY CRUDEOIL MAY 2022 @ 8000 SL 7800 TGT 8250-8400.MCX

NATURAL GAS

Natural gas trading range for the day is 547.9-639.9.

Natural gas gained on a smaller than usual storage build and a recent drop in U.S. output.

Also prices soared due to unusual cold in Alberta, Canada and unusual heat in the U.S. Mid-Atlantic region.

The U.S. Energy Information Administration (EIA) said utilities added 15 billion cubic feet (bcf) of gas to storage during the week ended April 8.

Supporting prices further were inventory data showing a more-than-anticipated draw of 33 bcf last week to a nearly 3-year low.

BUY NAT GAS APR 2022 @ 550.00 SL 530.00 TGT 570.00-582.00.MCX

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