BUY NATURALGAS MAY @ 260 SL 256 TGT 265-268. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL MAY @ 9200 SL 9400 TGT 900-8800. MCX
Observations
Crudeoil trading range for the day is 8194-9628.
Crude oil prices amid heightening fears that the fragile ceasefire between the US and Iran may be breaking down
Crude inventories fell by 2.3 million barrels to 457.2 million barrels in the week ended May 1, the EIA said.
U.S. gasoline stocks fell by 2.5 million barrels in the week to 219.8 million barrels, the EIA said.
U.S. exports of petroleum products rose by 483,000 barrels per day (bpd) to a record 8.224 million bpd.
NATURALGAS
BUY NATURALGAS MAY @ 260 SL 256 TGT 265-268. MCX
Observations
Naturalgas trading range for the day is 248.1-273.9.
Natural gas climbed after the EIA reported a smaller than expected storage build..
Utilities injected 63 billion cubic feet of gas into storage in the week ended May 1, below forecasts of 74 bcf.
US gas output dips as low prices prompt producers to cut production
LSEG forecasts lower US gas demand next week as heating use falls
