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CRUDEOIL

Crude oil trading range for the day is 4696-4922.

Crude oil dropped pressured by rising COVID-19 infections in India and elsewhere and despite a much sharper than expected fall in U.S. crude inventories

U.S. gasoline stocks rose by 737,000 barrels in the week to 235.8 million barrels, the EIA said.

U.S. Gulf Coast crude stockpiles post largest draw since July 2020 – EIA

U.S. crude stocks slump more than expected – EIA

SELL CRUDEOIL MAY 2021 @ 4860 SL 4940 TGT 4760-4720.MCX

NATURAL GAS

Natural gas trading range for the day is 211.5-221.3.

Natural gas slipped on a small decline in exports and an increase in output.

That small price decline came despite forecasts for cooler weather and higher heating demand over the next two weeks than previously expected.

The U.S. Energy Information Administration said U.S. utilities added 60 billion cubic feet (bcf) of gas into storage during the week ended April 30.

Data provider Refinitiv said gas output in the Lower 48 U.S. states averaged 90.7 billion cubic feet per day (bcfd) so far in May, up from 90.6 in April

BUY NAT GAS MAY 2021 @ 215.00 SL 210.00 TGT 221.00-225.00.MCX

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