Buy Crudeoil APR @ 10500 SL 10300 TGT 10800-11000. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL APR @ 10500 SL 10300 TGT 10800-11000. MCX
Observations
Crudeoil trading range for the day is 9985-10941.
Crude oil gains after President Trump issued a fresh ultimatum to Iran and intensified threats targeting its civilian infrastructure.
US crude premiums climb to record levels as Asia, Europe compete for supply
OPEC+ agreed to raise its oil output quotas by 206,000 barrels per day for May, a modest rise.
Russian supply has been disrupted recently by Ukrainian drone attacks on its Baltic Sea export terminals.
Natural Gas
BUY NATURALGAS APR @ 262 SL 257 TGT 268-274. MCX
Observations
Naturalgas trading range for the day is 256.3-275.1.
Natural gas edged up on forecasts for more demand and near-record amounts of gas flowing to LNG export plants
Europe’s gas storage is running low, standing at 28%, heightening vulnerability as competition with Asia for LNG intensifies.
The latest EIA data showed a 36 Bcf injection, compared with a five-year average withdrawal of 4 Bcf.
President Donald Trump issued an ultimatum to Iran, threatening to strike Iranian oil facilities and other civilian infrastructure.
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