Buy Natural Gas MAY @ 266 SL 262 TGT 272-276. MCX - Kedia Advisory
CRUDE OIL
BUY CRUDEOIL MAY @ 9600 SL 9400 TGT 9850-10000. MCX
Observations
Crudeoil trading range for the day is 9272-10018.
Crude oil rose as stark differences between the U.S. and Iran to end the war pushed supply concerns back into spotlight.
U.S. crude stocks were estimated to have dropped by about 1.7 million barrels last week.
OPEC oil output hits new low in April on Hormuz export disruption
HSBC raises 2026 Brent price forecast to $95 per barrel
NATURAL GAS
BUY NATURALGAS MAY @ 266 SL 262 TGT 272-276. MCX
Observations
Naturalgas trading range for the day is 261.3-286.5.
Natural gas slid on forecasts for less demand than previously expected, ample amounts of fuel in storage.
The average storage level in Germany stood at only around 26%, a level last seen during the crisis year of 2021/2022.
Lower demand forecasts and high storage levels weigh on prices
LSEG data shows U.S. output, LNG exports, and demand all trending lower
