BUY CRUDEOIL APR @ 8340 SL 8240 TGT 8480-8580. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL APR @ 8340 SL 8240 TGT 8480-8580. MCX
Observations
Crudeoil trading range for the day is 7131-10227.
Crude oil dropped after President Trump signaled de-escalation by ordering a five day pause on planned US strikes.
IEA consulting with governments on further oil stock releases, chief Birol says
Libya's El Feel oilfield has been in shutdown since Thursday.
Money managers raised their net long U.S. crude futures and options positions – CFTC
Natural Gas
BUY NATURALGAS MAR @ 270 SL 265 TGT 275-280. MCX
Observations
Naturalgas trading range for the day is 254.6-305.6.
Natural gas fell on a drop in global energy prices after U.S. President Donald Trump said he would postpone military strikes.
Pressure also seen on forecasts for milder weather and less gas demand in U.S. over the next two weeks than previously expected.
Average gas output in the U.S. Lower 48 states has risen to 109.8 bcfd so far in March, up from 109.2 bcfd in February.
SEG projected average gas demand in the Lower 48 states, would rise from 110.2 bcfd this week to 112.0 bcfd next week.
