Buy Nat Gas May 2022 @ 560.00 SL 535.00 TGT 595.00-615.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7650-8482.
Crudeoil rose amid prospects of strong oil demand after coronavirus cases in China declined while the EU continues to work to move ahead with an embargo on Russian oil.
U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration
Angola oil Minister: OPEC is very important to the country and we are doing our best to fulfil our commitments
Angola oil minister: Oil production seen at 1.14 million barrels per day in 2022 vs around 1.2 million bpd in 2021
SELL CRUDEOIL MAY 2022 @ 8250 SL 8400 TGT 8050-7900.MCX
NATURAL GAS
Natural gas trading range for the day is 553.8-615.4.
Natural gas gained on a big drop in daily output over the past three days and forecasts for more demand this week than previously expected.
The shutdown of a pipeline carrying Russian gas through Ukraine also helped support U.S. gas futures and temporarily lifted European prices.
U.S. natgas output, demand to rise in 2022 – EIA
The U.S. EIA said utilities added 77 billion cubic feet (bcf) of gas to storage during the week ended April 29.
BUY NAT GAS MAY 2022 @ 560.00 SL 535.00 TGT 595.00-615.00.MCX
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