IGI Logo

Crude oil

Crude oil trading range for the day is 4204-4560.

Crude oil prices gained buoyed by reports suggesting that the chances of a breakthrough in talks to revive an Iranian nuclear accord were slim.

Marine traffic slowed in the Suez Canal as oil tanker M/T Rumford appeared to face difficulties in the south of the canal

OPEC+ bets crude oil demand will recover as fast as output returns

Investors believe talks between Iran and the US as part of broader negotiations to revive the 2015 nuclear deal might not have an immediate breakthrough

SELL CRUDEOIL APR 2021 @ 4320 SL 4380 TGT 4240-4180.MCX

Natural gas

Natural gas trading range for the day is 177.4-191.6.

Natural gas fell on forecasts the weather will remain much milder than usual and heating demand low through late April.

U.S. utilities added 14 billion cubic feet (bcf) of natural gas to storage last week, lower than the expected 21 bcf injection.

Refinitiv estimated 174 heating degree days (HDDs) over the next two weeks in the lower 48 U.S. states.

Output in the Lower 48 U.S. states averaged 91.1 billion cubic feet per day (bcfd) in March, up sharply from a 28-month low of 86.5 bcfd in February

SELL NAT GAS APR 2021 @ 186.00 SL 192.00 TGT 180.00-176.50.MCX

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer