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Crudeoil

Crudeoil trading range for the day is 6746-7078

Crude oil dropped due to dwindling concerns over geopolitical tensions

Fading prospects of US interest rate cuts this year and weaker economic data from China for March also dampened the demand

EIA data showed that US crude inventories increased by 2.735 million barrels to their highest levels since June

Crude oil stocks in the US increased by 4.090 million barrels – API

BUY CRUDEOIL APR @ 6850 SL 6750 TGT 6950-7050. MCX

Naturalgas

Naturalgas trading range for the day is 142.8-151.2.

Natural gas gains on forecasts for cooler weather

Support also seen amid an increase in the amount of gas flowing to LNG export plants

US utilities added 50 billion cubic feet (bcf) of gas into storage

U.S. gas production fell by around 10% so far this year as several energy firms, including EQT and Chesapeake Energy.

BUY NATURALGAS APR @ 145 SL 141 TGT 150-154. MCX