Sell Crudeoil APR @ 6780 SL 6850 TGT 6680-6600. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6643-6925.
Crude oil dropped as traders assess the demand and supply outlook.
Crude inventories in the United States, fell for a second week.
Stockpiles unexpectedly declined by 2mbls to 445 mbls, as exports rose and refiners continued to increase activity.
Ukrainian attacks on Russian refineries also prompted investors to trade crude at higher prices.
SELL CRUDEOIL APR @ 6780 SL 6850 TGT 6680-6600. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 137.6-148.4.
Natural gas eased on forecasts for less demand over the next two weeks.
Also weighing on prices was the expectation that the amount of gas flowing to LNG export plants would remain low.
EIA said utilities added 7 bcf of gas into storage during the week ended March 15.
Gas output in the Lower 48 U.S. states fell to an average of 100.2 bcfd so far in March
BUY NATURALGAS MAR @ 136 SL 132 TGT 142-146. MCX
