Sell Crude Oil Apr 2021 @ 4500 SL 4560 TGT 4430-4380.MCX - Kedia Advisory
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CRUDEOIL
* Crude oil trading range for the day is 4058-4534.
* Crude oil dropped on concerns that new pandemic curbs and slow vaccine rollouts in Europe will slow a recovery in fuel demand
* OPEC+ compliance with oil cuts rises to 113% in February
* U.S. drillers add most oil & gas rigs in a week since January
* Speculators raise U.S. crude oil net longs-CFTC
SELL CRUDEOIL APR 2021 @ 4500 SL 4560 TGT 4430-4380.MCX
NATURAL GAS
* Natural gas trading range for the day is 180-188.4.
* Natural gas slipped on forecasts for milder weather and less demand than previously expected over the next two weeks.
* That decline came despite near record liquefied natural gas (LNG) exports.
* Falling demand and rising output over the past month caused utilities to pull less gas from storage in recent weeks.
* Refinitiv projected average gas demand, including exports, would rise from 98.6 bcfd this week to 99.4 bcfd next week
SELL NAT GAS MAR 2021 @ 184.00 SL 188.50 TGT 179.50-176.50.MCX
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