Sell Crudeoil APR @ 8650 SL 8750 TGT 8500-8400. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL APR @ 8650 SL 8750 TGT 8500-8400. MCX
Observations
Crudeoil trading range for the day is 8141-9349.
Crude oil dropped as US and Iran are considering further negotiations aimed at securing a longer-term ceasefire.
OPEC lowered its forecast for world oil demand in the second quarter by 500,000 bpd.
Saudi Arabia’s oil supply to the market fell to 7,763 thousand barrels per day in March 2026, the lowest since June 2020.
UBS raises Brent oil price forecasts as Strait of Hormuz disruptions persist.
Natural Gas
BUY NATURALGAS APR @ 240 SL 236 TGT 244-248. MCX
Observations
Naturalgas trading range for the day is 235.4-253.4.
Natural gas eased on near-record output, mild weather, ample storage
LSEG reports US gas output at 111.1 bcfd in April,inventories 5.3% above normal
EIA reported a 50 Bcf injection into storage, exceeding market expectations of a 46 Bcf build.
Global gas prices surge on Iran conflict, but US prices fall with export limits
