Sell Nat Gas Apr 2022 @ 535.00 SL 550.00 TGT 515.00-500.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7666-8148.
Crude oil rose as investors focus on lower supply from Russia, Libya
Libya said the country was losing more than 550,000 barrels per day of oil output due to blockades at major fields and export terminals.
OPEC+ struggling to meet their production targets and with U.S. crude stockpiles down sharply in the week ended April 15.
U.S. crude exports rose last week to the highest since March 2020, U.S. Energy Information Administration data showed.
BUY CRUDEOIL MAY 2022 @ 7750 SL 7600 TGT 8000-8100.MCX
NATURAL GAS
Natural gas trading range for the day is 492.9-560.1.
Natural gas prices dropped after a federal report showed a much bigger-than-expected storage build last week.
Data from the U.S. EIA showed utilities added 53 billion cubic feet (bcf) of natural gas to storage last week
Natural gas output in China is soaring after Beijing pressured state-owned producers to ramp up production
U.S. natural gas production and demand will both rise in 2022 as the economy grows
SELL NAT GAS APR 2022 @ 535.00 SL 550.00 TGT 515.00-500.00.MCX
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