Buy Crudeoil APR @ 9100 SL 9000 TGT 9250-9450. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL APR @ 9100 SL 9000 TGT 9250-9450. MCX
Observations
Crudeoil trading range for the day is 8863-9489.
Crude oil gains on concerns over supplies from Saudi Arabia and limited flows through the Strait of Hormuz.
Russia's Novak sees country's oil output at 515 mln T in 2026, up from 2025.
Japan plans new oil stockpile release from early May, PM Takaichi says
Russia's crude oil exports from its main western ports increased in early April compared with March.
Natural Gas
BUY NATURALGAS APR @ 246 SL 242 TGT 250-254. MCX
Observations
Naturalgas trading range for the day is 243.8-255.2.
Natural gas slid on a slightly bigger-than-expected storage build last week and forecasts for milder weather and lower demand.
The U.S. Energy Information Administration said energy firms added 50 billion cubic feet (bcf) of gas into storage.
Average gas output in the U.S. Lower 48 states has risen to 111.1 bcfd so far in April, up from 110.4 bcfd in March.
On a daily basis, output was on track to drop by 2.9 bcfd over the past three days to a preliminary two-week low of 109.2 bcfd.
