Buy Crudeoil MAY @ 9050 SL 8900 TGT 9200-9300. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL MAY @ 9050 SL 8900 TGT 9200-9300. MCX
Observations
Crudeoil trading range for the day is 8785-9367.
Crude oil climbed as the Strait of Hormuz remained effectively closed amid stalled US–Iran peace negotiations.
Reports indicated that Iran had submitted a new proposal to the US aimed at reopening the Strait of Hormuz and easing tensions.
Citi raised its forecast for the average Brent oil price for the remainder of 2026, and said it sees prices reaching $150 per barrel.
The strategic global oil inventory stood at around 2.5 billion barrels at the end of last year, the U.S. EIA said.
Natural Gas
SELL NATURALGAS MAY @ 263 SL 268 TGT 255-250. MCX
Observations
Naturalgas trading range for the day is 249.6-271.8.
Natural gas edged up boosted by a drop in output in recent weeks, lifted demand forecasts
Mild weather and low demand to boost gas storage levels to 8% above normal.
Some Texas and California power and gas prices turn negative as renewables meet demand
Gazprom's natural gas output down 4% in 2025
