Buy Crudeoil Mar @ 5940 SL 5860 TGT 6020-6080. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL MAR @ 5940 SL 5860 TGT 6020-6080. MCX
Observations
Crudeoil trading range for the day is 5787-6069.
Crude oil dropped following reports that OPEC+ will proceed with a planned output increase in April
U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing's retaliatory tariffs.
Further weighing on oil was Trump's halt of military aid to Ukraine.
Goldman Sachs forecast Brent oil to average $78/$73 and WTI oil to average around $74/$68 per barrel for 2025/2026.
Natural Gas
SELL NATURALGAS MAR @ 395 SL 405 TGT 382-370. MCX
Observations
Naturalgas trading range for the day is 335.9-423.1.
Natural gas jumped on record flows to LNG export plants and forecasts for higher demand.
US gas output on track to hit record high in March
US LNG export feedgas on track to match February's record high
Meteorologists projected weather in the Lower 48 states would remain mostly warmer than normal through March 19.
