Sell Crudeoil Apr 2022 @ 7600 SL 7900 TGT 7250-7000.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6967-8099.
Crude oil seen under pressure after update IEA to release 120 mln barrels of oil to ease prices
US crude oil inventories unexpectedly rise: API
Shanghai's longer lockdown boosts fears of slow demand in China
The potential for more sanctions following alleged war crimes by Russian troops in Ukraine raised concerns about supply disruptions.
SELL CRUDEOIL APR 2022 @ 7600 SL 7900 TGT 7250-7000.MCX
NATURAL GAS
Natural gas trading range for the day is 443-495.6.
Natural gas jumped on a decline in output and forecasts for more gas demand from power generators over the next two weeks than previously expected.
Global gas prices and demand for LNG soared as several countries seek to wean themselves off Russian gas after Moscow invaded Ukraine on Feb. 24.
That price increase came despite forecasts for mild weather through late April and lower demand over the next two weeks than previously expected.
On a daily basis, output was on track to drop about 1.4 bcfd to 93.5 bcfd on Tuesday due mostly to declines in Texas.
BUY NAT GAS APR 2022 @ 460.00 SL 445.00 TGT 475.00-485.00.MCX
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