Sell Crudeoil Apr 2021 @ 4700 SL 4780 TGT 4620-4560.MCX - Kedia Advisory
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Curde Oil
Crude oil trading range for the day is 4258-4832.
Crude oil prices dropped after official data showed a sustained rise in U.S. crude and fuel inventories, while the ever-present pandemic clouded the demand outlook.
U.S. crude, fuel stockpiles rise as refiners boost output -EIA
IEA says oil supercycle unlikely but gasoline demand may have peaked
Gasoline demand may never recover from pandemic, says IEA
SELL CRUDEOIL APR 2021 @ 4700 SL 4780 TGT 4620-4560.MCX
Natural Gas
Natural gas trading range for the day is 173.1-187.7.
Natural gas fell on a smaller than expected storage withdrawal last week due to mild weather and low heating demand.
That price decline came even though liquefied natural gas (LNG) exports remain on track to hit record highs.
The U.S. EIA said U.S. utilities pulled just 11 billion cubic feet (bcf) of gas from storage during the week ended March 12.
Data provider Refinitiv said output in the Lower 48 U.S. states averaged 91.0 billion cubic feet per day (bcfd) so far in March
BUY NAT GAS MAR 2021 @ 182.00 SL 178.00 TGT 188.00-190.50.MCX
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