Sell Crudeoil Apr @ 6850 SL 6950 TGT 6750-6650. MCX - Kedia Advisory
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Crude Oil
Crudeoil trading range for the day is 6689-6843.
Crude oil prices fell on surging U.S. stockpiles
Crude inventories rose by 3.2 million barrels to 448.2 million barrels - EIA
US crude inventories rose 9.3 mln bbls week ended March 22 - API
OPEC+ unlikely to change oil output policy until June
SELL CRUDEOIL APR @ 6850 SL 6950 TGT 6750-6650. MCX
Naturalgas
Naturalgas trading range for the day is 139.1-152.7.
Natural gas slid on forecasts for milder weather and less heating demand next week
The Freeport LNG export plant in Texas has announced that two of its three liquefaction trains will be offline until May.
Gas output in the Lower 48 U.S. states fell to an average of 100.3 bcfd so far in March, down from 104.1 bcfd in February.
The report showed that US utilities built their inventories for the first time since November to likely end the seasonal inventory depletion.
SELL NATURALGAS APR @ 153 SL 157 TGT 148-145. MCX
