Buy Nat Gas Apr 2021 @ 188.00 SL 184.00 TGT 192.80-196.50.MCX - Kedia Advisory
CRUDEOIL
Crude oil trading range for the day is 4347-4569.
Crude oil gains following news that Russia would support broadly stable oil output by major oil producers in May ahead of an OPEC+ meeting on April 1st.
U.S. shale oil output to drop 46,000 bpd to 7.46 mln bpd in April – EIA
U.S. crude, fuel stockpiles rise in most recent week -EIA
Global oil markets under pressure as Asia destocks, China imports slowed
BUY CRUDEOIL APR 2021 @ 4430 SL 4370 TGT 4480-4520.MCX
Natural gas
Natural gas trading range for the day is 187.2-196.4.
Natural gas rose on record liquefied natural gas (LNG) exports and forecasts for slightly higher demand this week
EIA said U.S. utilities pulled 36 billion cubic feet (bcf) of gas from storage during the week ended March 19.
Refinitiv projected average gas demand, including exports, would rise from 98.6 bcfd this week to 99.4 bcfd next week
Output in the Lower 48 U.S. states averaged 91.1 bcfd so far in March, up sharply from a 28-month low of 86.5 bcfd in February
BUY NAT GAS APR 2021 @ 188.00 SL 184.00 TGT 192.80-196.50.MCX
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