Sell Nat Gas Apr 2022 @ 560.00 SL 580.00 TGT 535.00-524.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7497-8461.
Crude oil dropped on demand concerns after the International Monetary Fund (IMF) reduced its economic growth forecasts and warned of higher inflation.
OPEC+ supply gap widens in March as sanctions hit Russian output
OPEC+ produced 1.45 mln BPD below targets in March
OPEC+ compliance rises to 157% in March, from 132% in Feb.
SELL CRUDEOIL MAY 2022 @ 8000 SL 8200 TGT 7750-7640.MCX
NATURAL GAS
Natural gas trading range for the day is 492.8-623.2.
Natural gas dropped on profit booking after prices rose to all time high on a smaller than usual storage build and a recent drop in U.S. output.
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
EIA projected that dry gas production will rise to 97.41 billion cubic feet per day (bcfd) in 2022 and 100.86 bcfd in 2023 from a record 93.57 bcfd in 2021.
SELL NAT GAS APR 2022 @ 560.00 SL 580.00 TGT 535.00-524.00.MCX
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