Sell Crude Oil Apr 2021 @ 4490 SL 4560 TGT 4400-4350 - Kedia Advisory
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Crude oil
* Crude oil trading range for the day is 4242-4574
* Crude oil prices moved sharply lower amid concerns about the outlook for energy demand.
* Data from the American Petroleum Institute industry group showed U.S. crude oil stocks rose by 3.9 million barrels in the week to March 26
* Saudi wants OPEC+ to extend oil cuts into June
* U.S. gasoline demand exceeds 2020 levels for first time in 2021
SELL CRUDEOIL APR 2021 @ 4490 SL 4560 TGT 4400-4350.MCX
Natural gas
* Natural gas trading range for the day is 186-197.
* Natural gas fell on bets that milder weather would curb heating demand, but losses were capped by record liquefied natural gas (LNG) exports
* EIA said U.S. utilities pulled 36 billion cubic feet (bcf) of gas from storage during the week ended March 19
* Refinitiv projected average gas demand, including exports, would rise from 98.6 bcfd this week to 99.4 bcfd next week
* Output in the Lower 48 U.S. states averaged 91.1 bcfd so far in March, up sharply from a 28-month low of 86.5 bcfd in February
BUY NAT GAS APR 2021 @ 190.00 SL 185.00 TGT 196.00-199.00.MCX
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