IGI Logo

CRUDEOIL

Crude oil trading range for the day is 7542-8066.

Crude oil prices rose as Europe announced plans to impose new sanctions on Russian oil imports to punish Moscow over alleged war crimes in Ukraine

Kazakhstan cuts 2022 oil output outlook to 85.7 mln t

Iraq's crude production in March was 222,000 bpd lower than its OPEC+ quota

Iraq produced 4.15 million barrels per day of crude in March, down 112,000 barrels per day from February

SELL CRUDEOIL APR 2022 @ 7850 SL 8050 TGT 7600-7450.MCX

NATURAL GAS

Natural gas trading range for the day is 428.4-484.6.

Natural gas jumped on a preliminary drop in U.S. output and the possibility that additional sanctions on Russian gas supplies.

Global gas prices and demand for LNG soared as several countries seek to wean themselves off Russian gas after Moscow invaded Ukraine on Feb. 24.

That price increase came despite forecasts for mild weather through late April and lower demand over the next two weeks than previously expected.

On a daily basis, output was on track to drop about 1.4 bcfd to 93.5 bcfd on Tuesday due mostly to declines in Texas.

BUY NAT GAS APR 2022 @ 455.00 SL 440.00 TGT 470.00-482.00.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