Buy Crudeoil APR @ 10300 SL 10000 TGT 10600-10800. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL APR @ 10300 SL 10000 TGT 10600-10800. MCX
Observations
Crudeoil trading range for the day is 9207-11241.
Crude oil gained as traders worried about prolonged disruptions to oil supply.
Venezuela's oil exports surpassed 1 million bpd for the first in 6 months
Brent crude prices could average $95 a barrel in the base case and $130 a barrel in the bull case in the second half of the year - CITI
Prices could rise above $150 if the Strait remains closed into the middle of May - JP Morgan
Natural Gas
BUY NATURALGAS APR @ 262 SL 257 TGT 268-274. MCX
Observations
Naturalgas trading range for the day is 256.1-276.7.
Natural gas edged down on expectations that mild weather would squeeze demand.
A federal report showed energy companies injected slightly more gas than expected into storage, indicating weaker demand.
Energy companies added 36 bcf of gas into stockpiles during the week ended March 27, the U.S. EIA.
Average gas demand in the Lower 48 states, would fall from 108.7 bcfd this week to 107.6 bcfd next week.
