Sell Crude Oil MAY @ 9800 SL 10000 TGT 9500-9300. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL MAY @ 9800 SL 10000 TGT 9500-9300. MCX
Observations
Crudeoil trading range for the day is 9378-10226.
Crude oil slipped as investors weighed the risk of a broader conflict against the possibility that the escalation is part of ongoing negotiations.
The US and Iran exchanged fire in the Strait of Hormuz, casting doubt on the durability of a four-week ceasefire.
OPEC+ has agreed an increase in oil output of 188,000 barrels per day, the cartel said
Money managers cut their net long U.S. crude futures and options positions – CFTC
NATURALGAS
SELL NATURALGAS MAY @ 270 SL 275 TGT 265-260. MCX
Observations
Naturalgas trading range for the day is 259.7-277.5.
Natural gas eased on forecasts for less demand over the next two weeks than previously expected.
U.S. gas output dips as producers like EQT cut production amid low spot prices Average gas output in the U.S.
Lower 48 states fell to 109.1 billion cubic feet per day (bcfd) so far in May
EIA reported a 79 Bcf injection into storage, broadly in line with expectations of an 80 Bcf build.
