Buy Naural Gas May @ 165 SL 162 TGT 169-171. MCX - Kedia Advisory
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CRUDEOIL
Observations
Crudeoil trading range for the day is 6691-7057.
Crude oil dropped as investors dialled down concerns over conflict in the Middle East.
Goldman Sachs sees $90 per barrel ceiling on Brent
U.S. business activity cooled to 4-month low in April
Crude stocks slumped by 6.4 million barrels to 453.6 million barrels in the week ended April 19
BUY CRUDEOIL MAY @ 6850 SL 6750 TGT 6950-7050. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 160.6-181.
Natural gas fell pressured by forecasts for mild weather leading to lower gas demand for heating.
LSEG predicts gas demand in Lower 48 states to fall to 93.1 billion cubic feet per day next week
Gas output in Lower 48 states fell to an average of 96.8 billion cubic feet per day in April from 100.8 billion in March.
U.S. gas production dropped by around 10% in 2024 due to delayed well completions and reduced drilling activities.
BUY NATURALGAS MAY @ 165 SL 162 TGT 169-171. MCX
