Buy Crudeoil Apr @ 7050 SL 6950 TGT 7150-7250. MCX - Kedia Advisory
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Crudeoil
Crudeoil trading range for the day is 6991-7291.
Crude oil prices dropped as Middle East tensions ease slightly.
Azerbaijan's March oil output edges up to 481,000 bpd, below OPEC+ quota
Iraq completes the first stage of repairing its oil export pipeline to Turkey – Deputy Oil Minister.
Mexico's state oil company Pemex said it would reduce crude exports by 330,000 barrels per day.
BUY CRUDEOIL APR @ 7050 SL 6950 TGT 7150-7250. MCX
Naturalgas
Naturalgas trading range for the day is 150.4-162.6.
Natural gas prices rose due to increased flows to Freeport LNG export plant in Texas
Gas output in Lower 48 states fell to 99.2 billion cubic feet per day in April, down from 100.8 billion in March.
Daily output is expected to drop by 3.7 billion to a preliminary 11-week low of 96.4 billion.
LSEG forecasts gas demand in Lower 48, to fall from 100.9 billion to 96.1 billion next week
BUY NATURALGAS APR @ 152 SL 148 TGT 156-160. MCX
