Powered by: Motilal Oswal
05-10-2021 12:34 PM | Source: Kedia Advisory
Sell Crudeoil May 2021 @ 4850 SL 4940 TGT 4750-4700.MCX - Kedia Advisory
News By Tags | #473 #5839

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

CRUDEOIL

Crude oil trading range for the day is 4643-4871.v

Crude oil prices dropped after OPEC and its allies have overproduced their quotas by a cumulative 3.316 million b/d through the end of March.

China’s crude imports fell 0.2% in April from a year earlier to 40.36 million tonnes, or 9.82 million barrels per day

Russia increased its oil production in April to almost 10.5 million barrels a day.

Russian oil output rises 2% in April following OPEC+ deal

SELL CRUDEOIL MAY 2021 @ 4850 SL 4940 TGT 4750-4700.MCX

 

NATURAL GAS

Natural gas trading range for the day is 210.8-222.2.

Natural gas rose on forecasts for cooler weather and higher heating demand next week than previously expected.

US natgas rig count rose 7 at 103 – Baker Hughes

The U.S. Energy Information Administration said U.S. utilities added 60 billion cubic feet (bcf) of gas into storage during the week ended April 30.

Data provider Refinitiv said gas output in the Lower 48 U.S. states averaged 90.7 billion cubic feet per day (bcfd) so far in May, up from 90.6 in April

SELL NAT GAS MAY 2021 @ 216.00 SL 220.00 TGT 212.00-209.00.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