Buy Crudeoil Apr @ 5960 SL 5860 TGT 6060-6160. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL APR @ 5960 SL 5860 TGT 6060-6160. MCX
Observations
Crudeoil trading range for the day is 5912-6054.
Crude oil settled flat as the announcement of auto tariffs by U.S. President stoked worries about global growth.
Trump ratcheted up transatlantic trade tensions by announcing a new 25-percent tariff on all auto imports.
Crude oil inventories in the US fell by 3.341 million barrels - EIA
U.S. crude inventories fell by 4.6 million barrels last week – API
NATURALGAS
SELL NATURALGAS APR @ 342 SL 348 TGT 332-326. MCX
Observations
Naturalgas trading range for the day is 314.5-351.7.
Natural gas climbed as Freeport LNG’s Texas export plant resumed operations.
Meteorologists predict above-normal temperatures across the Lower 48 states through April 9, likely reducing demand.
Average gas output in the Lower 48 has climbed to 106.0 bcfd so far in March, surpassing February’s record 105.1 bcfd.
Average gas demand in the Lower 48, will slide from 108.3 bcfd this week to 104.1 bcfd next week.
