Buy Nat Gas May 2021 @ 216.00 SL 212.00 TGT 222.00-226.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4715-4943.
Crude oil prices jumped as expectations of an economic recovery in the developed world offset investor concerns over fuel demand in India.
U.S. crude oil exports fell to 2.61 million barrels per day in March compared with 2.65 million bpd the February, foreign trade data from the U.S. Census Bureau showed.
EU officials proposed easing restrictions on visiting the 27-nation bloc as vaccination campaigns across the continent gather speed.
OPEC's share of Indian oil imports plunges to 2 decade low
SELL CRUDEOIL MAY 2021 @ 4780 SL 4850 TGT 4710-4660.MCX
NATURAL GAS
Natural gas trading range for the day is 214.1-224.9.
Natural gas settled flat on forecasts for milder weather and less heating demand this week than previously expected.
Support also seen after a government report showed that US stockpiles increased more than expected last week.
EIA said U.S. utilities added 15 billion cubic feet (bcf) of gas into storage during the week ended April 23.
Data provider Refinitiv said gas output in the Lower 48 U.S. states slipped to an average of 91.3 bcfd so far in April
BUY NAT GAS MAY 2021 @ 216.00 SL 212.00 TGT 222.00-226.00.MCX
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