Buy Natural Gas May @ 264 SL 258 TGT 270-275. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL MAY @ 5440 SL 5520 TGT 5350-5300. MCX
Observations
Crudeoil trading range for the day is 5239-5511.
Crude oil recovered amid signs of easing trade tensions between the U.S. and China.
OPEC+ to consider another accelerated oil output hike for June
Money managers raised their net long U.S. crude futures and options positions in the week to April 22.
U.S. imposed fresh sanctions this week on a key Iranian figure involved in crude and LPG shipping.
NATURAL GAS
BUY NATURALGAS MAY @ 264 SL 258 TGT 270-275. MCX
Observations
Naturalgas trading range for the day is 255.7-277.3.
Natural gas edged up on a drop in daily output and near-record LNG exports.
U.S. gas output on track to hit record high in April
U.S. gas storage about 1% below five-year average
Meteorologists projected temperatures in the Lower 48 states would remain mostly warmer than normal through May 10.
