Buy Nat Gas Apr 2021 @ 186.00 SL 181.00 TGT 192.00-196.00.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 4278-4552.
Crude oil settled higher supported by data showing a drop in U.S. crude inventories in the week ended April 2.
U.S. crude oil stockpiles fell more than expected in the week ended April 2, while fuel inventories rose
U.S. crude output to decline more than previously forecast in 2021 – EIA
EIA expects U.S. petroleum and other liquid fuel consumption to rise 1.32 million bpd to 19.44 million bpd in 2021
SELL CRUDEOIL APR 2021 @ 4400 SL 4480 TGT 4320-4275.MCX
Natural gas
Natural gas trading range for the day is 177.6-195.6.
Natural gas edged up as the drop in prices encourages power generators to burn more gas and on forecasts for slightly cooler weather over the next two weeks.
U.S. utilities added 14 billion cubic feet (bcf) of natural gas to storage last week, lower than the expected 21 bcf injection.
Refinitiv estimated 174 heating degree days (HDDs) over the next two weeks in the lower 48 U.S. states.
Output in the Lower 48 U.S. states averaged 91.1 billion cubic feet per day (bcfd) in March, up sharply from a 28-month low of 86.5 bcfd in February
BUY NAT GAS APR 2021 @ 186.00 SL 181.00 TGT 192.00-196.00.MCX
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