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Buy Naturalgas Apr @ 145 SL 140 TGT 150-155. MCX - Kedia Advisory
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Crudeoil
Crudeoil trading range for the day is 7032-7208.
Crude oil dropped as U.S. crude, gasoline and distillate inventories rose
OPEC predicted robust fuel use in the summer months and stuck to its forecast.
U.S. crude oil output is set to grow slightly more than earlier estimates for this year and next.
U.S. crude oil production will rise by around 280,000 bpd this year to 13.21 million bpd, and by 510,000 bpd to 13.72 mbpd in 2025.
SELL CRUDEOIL APR @ 7150 SL 7250 TGT 7050-6950. MCX
Naturalgas
Naturalgas trading range for the day is 140.9-160.3.
Natural gas prices fell due to lower demand forecasts.
US utilities increased their storage of natural gas by 24 billion cubic feet.
Gas output in Lower 48 U.S. states fell to an average of 98.9 billion cubic feet per day (bcfd) so far in April
Gas demand in the Lower 48, including exports, is expected to fall from 100.6 bcfd this week to 96.0 bcfd next week.
BUY NATURALGAS APR @ 145 SL 140 TGT 150-155. MCX
