Buy Nat Gas May 2021 @ 205.00 SL 200.00 TGT 212.00-215.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4625-4723.
Crude oil edged higher after OPEC and its allies projected a strong recovery in global oil demand this year.
The upside was capped by growing concerns about fuel demand.
OPEC+ kept its forecast for global oil demand growth for this year unchanged, projecting it to rise by 6 million barrels per day (bpd) for 2021
Kuwait oil minister says crude demand improving
SELL CRUDEOIL MAY 2021 @ 4680 SL 4730 TGT 4620-4570.MCX
NATURAL GAS
Natural gas trading range for the day is 208.7-225.3.
Natural gas rose buoyed by record exports and declining production, despite forecasts for milder weather and lower heating demand over the next two weeks.
Colder than usual April weather last week boosted heating by so much that utilities may have taken the unusual step of pulling gas from storage.
The U.S. EIA said utilities added 38 bcf of gas into storage during the week ended April 16.
Data provider Refinitiv said gas output in the Lower 48 U.S. states averaged 91.4 billion cubic feet per day (bcfd) so far in April
BUY NAT GAS MAY 2021 @ 205.00 SL 200.00 TGT 212.00-215.00.MCX
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