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Crudeoil

BUY CRUDEOIL APR @ 5780 SL 5700 TGT 5880-5960. MCX

Observations

Crudeoil trading range for the day is 5702-5906.

Crude oil gains amid prospects that progress on Russia-Ukraine peace talks could lead to increased supply.

Crude oil inventories in the US rose by 1.745 million barrels, data from the EIA showed.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.009 million barrels, after a 1.128 million decrease.

US crude oil inventories increased by 4.593 million barrels – API

Natural Gas 

SELL NATURALGAS MAR @ 366 SL 374 TGT 356-348. MCX

Observations

Naturalgas trading range for the day is 346.6-374.2.

Natural gas edged up on record gas flows to LNG export plants, a drop in daily output.

Gas stockpiles were currently around 12% below normal levels for this time of year.

Average gas output in the Lower 48 U.S. states had risen to 105.8 billion cubic feet per day (bcfd) so far in March

Meteorologists projected weather in the Lower 48 states would remain mostly near normal through April 2.