Sell Crudeoil May 2022 @ 8320 SL 8450 TGT 8120-8000.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7968-8642.
Crude oil prices extended gains on supply concerns after the European Union laid out plans for new sanctions against Russia
OPEC+ agrees to stick to gradual oil – output hike in June
France sees EU consensus on Russian oil ban this week
U.S. crude stocks build unexpectedly; fuel draws down amid export surge – EIA
SELL CRUDEOIL MAY 2022 @ 8320 SL 8450 TGT 8120-8000.MCX
NATURAL GAS
Natural gas trading range for the day is 603.5-700.9.
Natural gas jumped as hot spring weather boosted air conditioning demand, while much higher global prices kept demand for U.S. LNG exports strong.
The U.S. Energy Information Administration (EIA) said utilities added 77 billion cubic feet (bcf) of gas to storage during the week ended April 29.
The US is set for temperatures in May that would even be considered hotter-than-normal during summer months
Production remained 2 billion cubic feet below this year’s highs amid the maintenance season and recent freeze-offs.
BUY NAT GAS MAY 2022 @ 620.00 SL 600.00 TGT 650.00-670.00.MCX
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