Sell Crudeoil APR @ 10650 SL 10850 TGT 10200-9800. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL APR @ 10650 SL 10850 TGT 10200-9800. MCX
Observations
Crudeoil trading range for the day is 10078-11286.
Crude oil prices rose ahead of a deadline set by U.S. President Trump for Iran to open the Strait of Hormuz or face attacks
Saudi Aramco raised the official selling price of its Arab Light crude to Asia for May delivery, setting a record premium of $19.50
OPEC+ oil producing nations agreed to raise their May oil output quotas by 206,000 barrels per day
Spot premiums for U.S. West Texas Intermediate crude have jumped to all-time highs.
Natural Gas
SELL NATURALGAS APR @ 272 SL 276 TGT 268-264. MCX
Observations
Naturalgas trading range for the day is 255.8-278.8.
Natural gas edged up to a one-week high on a preliminary decline in daily output.
That small price increase came despite forecasts for milder weather and lower demand over the next two weeks.
Average gas output in the U.S. Lower 48 states rose to 111.2 bcfd so far in April, up from 110.4 bcfd in March.
Meteorologists forecast the weather will remain mostly warmer than normal through April 22.
