Buy NaturalGas MAR @ 138 SL 134 TGT 143-147. MCX - Kedia Advisory
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Crudeoil
Crudeoil trading range for the day is 6643-6925.
Crude oil dropped as investors took some profits after a strong run-up in prices
Saudi Arabia’s crude production rose to 8.96 mbpd in January: JODI Crude oil inventories in the US fell by 1.952 million barrels in the week ended March 15 – EIA U.S.
oil output from top shale-producing regions will rise in April to the highest level in four months
BUY CRUDEOIL APR @ 6700 SL 6600 TGT 6800-6900. MCX
Naturalgas
Naturalgas trading range for the day is 137.6-148.4.
Natural gas dropped as gas storage levels in the US are 37% higher than average for this time of year.
Repairs at the Freeport LNG terminal are set to continue until April, resulting in a greater portion of supply remaining within the domestic market.
U.S. natural gas prices at the Henry Hub benchmark will average $2.81 mmBtu in 2024, their highest since 2022.
U.S. natural gas storage is on track to end the November-March winter withdrawal season at 2.050 tcf on March 31, the highest since 2017.
BUY NATURALGAS MAR @ 138 SL 134 TGT 143-147. MCX
