Buy Nat Gas May 2022 @ 610.00 SL 590.00 TGT 645.00-660.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 8327-8797.
Crude oil gained amid expectations of a pick-up in energy demand China, as China eased some COVID-19 lockdowns
U.S. crude stocks in the Strategic Petroleum Reserve fell last week to the lowest since November 1987
China's April Saudi oil imports soar 38% on yr, Russian oil up 4%
Crude inventories fell by 3.4 million barrels in the last week to 420.8 million barrels
SELL CRUDEOIL JUN 2022 @ 8750 SL 8900 TGT 8580-8450.MCX
NATURAL GAS
Natural gas trading range for the day is 596.9-663.1.
Natural gas fell as output slowly rises and on forecasts for milder weather and lower demand over the next two weeks than previously expected.
That decline comes despite a jump in the amount of gas flowing to U.S. LNG export plants to a near seven-week high
EIA said utilities added 89 billion cubic feet (bcf) of gas to storage during the week ended May 13.
Average U.S. gas demand, including exports, would hold near 89.7 bcfd this week and next before sliding to 88.7 bcfd in two weeks
BUY NAT GAS MAY 2022 @ 610.00 SL 590.00 TGT 645.00-660.00.MCX
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