Buy Nat Gas Mar 2022 @ 410.00 SL 395.00 TGT 425.00-435.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 8136-8956.
Crude oil dropped as the United States and allies considered releasing more oil from storage to cool markets.
The IEA approved the release of 60 million barrels of oil reserves
Kazazkstan said it expects the CPC to resume shipping crude within a month
European Union remained split on whether to impose an oil embargo on Russia.
BUY CRUDEOIL APR 2022 @ 8550 SL 8400 TGT 8750-8900.MCX
NATURAL GAS
Natural gas trading range for the day is 400.3-436.1.
Natural gas climbed on forecasts cold weather next week will cause utilities to pull gas out of storage to meet an increase in heating demand.
That U.S. price decline came even though rising global demand for gas to replace Russian fuel
EIA said U.S. utilities pulled 51 billion cubic feet (bcf) of gas from storage during the week ended March 18.
Average gas output in the U.S. lower 48 states was on track to rise to 93.3 bcfd in March from 92.5 bcfd in February
BUY NAT GAS MAR 2022 @ 410.00 SL 395.00 TGT 425.00-435.00.MCX
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