Buy Crude Oil MAY @ 9600 SL 9400 TGT 9850-10000. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL MAY @ 9600 SL 9400 TGT 9850-10000. MCX
Observations
Crudeoil trading range for the day is 9419-10101.
Crude oil dropped as OPEC lowered its forecast for global oil demand growth in 2026
OPEC cuts Q2 oil demand forecast by further 500,000 bpd amid Iran war impact
OPEC+ output drops by 1.74 million bpd in April on Hormuz closure
Global oil supply to plunge below demand this year on Iran war, IEA says
NATURALGAS
BUY NATURALGAS MAY @ 272 SL 268 TGT 276-280. MCX
Observations
Naturalgas trading range for the day is 264.3-285.9.
Natural gas climbed on forecasts for more demand than previously expected and a continued decline in output.
Output across the Lower 48 states has trended lower in recent weeks as major producers, including EQT
U.S. natural gas output will rise to a record high in 2026, while demand will decline, EIA said.
Gas production growth this year is driven primarily by 6% growth both in the Permian and Haynesville regions.
