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Buy Naturalgas Apr @ 146 SL 142 TGT 152-155. MCX - Kedia Advisory
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Crudeoil
Crudeoil trading range for the day is 7148-7364.
Crude oil prices rose due to geopolitical tensions in the Middle East, supply tightening concerns
OPEC producer Iran vowed revenge against Israel for an attack that killed high-ranking Iranian military personnel.
OPEC+ maintained their oil supply policy, pressuring some countries to increase output cuts.
U.S. crude oil production fell in January to 12.533 million barrels per day, a 6% decline from December.
SELL CRUDEOIL APR @ 7300 SL 7400 TGT 7200-7100. MCX
Naturalgas
Naturalgas trading range for the day is 145.4-155.6.
Natural gas prices increased despite forecasts for milder weather and lower demand.
US utilities pulled 37 Bcf of gas from storage, compared to market expectations of a 38 bcf draw.
Power outages temporarily reduced gas demand as generators don't burn as much fuel.
Gas output in the Lower 48 U.S. states fell to an average of 99.1 bcfd in April, down from 100.8 bcfd in March.
BUY NATURALGAS APR @ 146 SL 142 TGT 152-155. MCX
