Sell Crudeoil APR @ 8350 SL 8500 TGT 8200-8050. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL APR @ 8350 SL 8500 TGT 8200-8050. MCX
Observations
Crudeoil trading range for the day is 7947-8569.
Crude oil jumped as tensions between the US and Iran escalated following attacks on commercial vessels in the Strait of Hormuz.
China's crude oil imports from Russia, were 10.07 million tons in March, or 2.37 mbpd, up 14% year-on-year
Saudi Arabia’s oil supply to the market fell to 7,763 thousand barrels per day in March 2026, the lowest since June 2020.
Money managers cut their net long U.S. crude futures and options positions in the week to April 14 – CFTC
Natural Gas
SELL NATURALGAS APR @ 254 SL 259 TGT 248-244. MCX
Observations
Naturalgas trading range for the day is 245.6-258.8.
Natural gas edged up on a drop in output over the past couple of weeks and forecasts for cooler weather.
Gas futures were also supported by near-record gas flows to U.S. LNG export plants and a 5% jump in crude futures.
Speculators increase NYMEX net short positions to highest since Nov 2024, CFTC data shows
Average gas output in the U.S. Lower 48 states held at 110.4 bcfd so far in April, the same as in March.
