Buy Crudeoil APR @ 7750 SL 7650 TGT 7900-8050. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL APR @ 7750 SL 7650 TGT 7900-8050. MCX
Observations
Crudeoil trading range for the day is 6808-9206.
Crude oil plunged after Iran’s Foreign Minister announced that the Strait of Hormuz is now fully open to commercial traffic.
The move boosted optimism that one of the most severe global energy supply disruptions in recent history may be easing.
US may release $20 billion in frozen Iranian funds in exchange for enriched uranium stockpiles, with further talks expected this weekend.
Saudi Arabia’s oil supply to the market fell to 7,763 thousand barrels per day in March 2026, the lowest since June 2020.
Natural Gas
BUY NATURALGAS APR @ 247 SL 243 TGT 252-256. MCX
Observations
Naturalgas trading range for the day is 240.7-256.5.
Natural gas gained on a drop in output over the past few days and near-record gas flows to LNG export plants.
However, upside seen limited amid forecasts for less demand next week than previously expected.
Average gas output in the U.S. Lower 48 states rose to 110.6 bcfd so far in April, up from 110.4 bcfd.
Meteorologists forecast the weather will remain mostly warmer than normal through May 2
