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CRUDEOIL

Crude oil trading range for the day is 4804-4930.

Crude oil settled flat as traders took some profits and looked ahead to the upcoming meeting of the OPEC and its allies.

U.S. crude oil output jumped 14.3% to 11.2 mbpd in March from 9.8 million bpd in February, the EIA said.

Global oil deficit is currently seen at around 1 million barrels per day, Russia's deputy prime minister Alexander Novak told

Data released by Baker Hughes showed U.S. rigs drilling for oil increased by 3 to 359 this week, rising for a fourth consecutive week

SELL CRUDEOIL JUN 2021 @ 4820 SL 4900 TGT 4700-4635.MCX

NATURAL GAS

Natural gas trading range for the day is 211.3-224.5.

Natural gas rose buoyed by forecasts for warmer weather in two weeks and a projected increase in liquefied natural gas (LNG) exports.

Higher temperatures in two weeks were expected to boost demand for fuel to power generators and keep air conditioners humming.

Data released by Baker Hughes showed, the total active U.S. rig count, including those drilling for natural gas, climbed by 2 to 457.

U.S. pipeline exports to Mexico, meanwhile, have averaged 6.0 bcfd so far in May, just off April's monthly record of 6.1 bcfd, Refinitiv data showed.

SELL NAT GAS JUN 2021 @ 222.50 SL 228.00 TGT 216.50-212.50.MCX

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