Buy Natural Gas May @ 282 SL 276 TGT 290-296. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL MAY @ 5220 SL 5300 TGT 5120-5020. MCX
Observations
Crudeoil trading range for the day is 5082-5326.
Crude oil fell as investors lowered their demand growth expectations due to the trade war.
Barclays cut its 2025 Brent crude price forecast by $4 to $70 a barrel, citing elevated trade tensions.
Several members of OPEC+, will suggest an acceleration of output hikes for a second consecutive month in June
Kazakhstan increased oil exports by 7% year-on-year to 1.63 mbpd in January-March.
NATURAL GAS
BUY NATURALGAS MAY @ 282 SL 276 TGT 290-296. MCX
Observations
Naturalgas trading range for the day is 276.3-300.3.
Natural gas gains on lifted demand forecasts, and some traders cited short-covering.
U.S. LNG export feedgas on track to hit record high in April
U.S. gas output on track to hit record high in April
U.S. gas storage about 1% below five-year average
