IGI Logo

CRUDEOIL

Crude oil trading range for the day is 4655-4815.

Crude oil prices eased on profit booking after prices rallied as IEA and OPEC raised forecasts for oil demand as major economies recover from the pandemic

Global oil demand and supply are set to be rebalanced in the second half of this year after the evaporation of demand in 2020 as the COVID-19 pandemic raged

OPEC expects demand to rise by 70,000 bpd from last month’s forecast and global demand is likely to rise by 5.95 million bpd in 2021

U.S. crude inventories were down by 5.9 million barrels last week, the Energy Information Administration (EIA) said

BUY CRUDEOIL APR 2021 @ 4690 SL 4600 TGT 4790-4860.MCX

NATURAL GAS

Natural gas trading range for the day is 191.6-204.8.

Natural gas rose on a slightly smaller than expected weekly storage build and near record liquefied natural gas (LNG) and pipeline exports.

That price increase came despite forecasts for less cold weather through the end of April than previously expected.

The U.S. Energy Information Administration (EIA) said U.S. utilities added 61 bcf of gas into storage

German gas imports fall 5.7% in first two months of 2021

BUY NAT GAS APR 2021 @ 194.00 SL 190.00 TGT 199.00-202.50.MCX

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer