22-03-2024 12:05 PM | Source: Kedia Advisory
Sell Crudeoil APR @ 6780 SL 6850 TGT 6680-6600. MCX - Kedia Advisory

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

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

 

To Read Complete Report & Disclaimer     Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer