Buy Naturalgas Apr @ 143 SL 138 TGT 148-152. MCX - Kedia Advisory
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Crude Oil
Crudeoil trading range for the day is 6734-7010.
Crude oil prices rose as investors anticipated tighter supplies.
Increased geopolitical risk has raised expectations of possible supply disruption.
OPEC+ producer alliance is widely expected to stay the course on its current production cuts.
IEA upped its demand forecast for the fourth time since November and tightened its supply outlook.
BUY CRUDEOIL APR @ 6850 SL 6750 TGT 6950-7050. MCX
Naturalgas
Naturalgas trading range for the day is 139.6-151.4.
Natural gas rose on forecasts for higher demand over the next two weeks than previously expected.
Output was already down by around 3% over the past month as several energy firms, delayed well completions
US utilities pulled 36 billion cubic feet (bcf) of gas from storage during the week ended March 22
Last week's decrease cut stockpiles to 2.296 trillion cubic feet (tcf), 430 bcf higher than last year at this time
BUY NATURALGAS APR @ 143 SL 138 TGT 148-152. MCX
