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 8296-8882.
Crude oil gains amid ongoing worries about supply disruptions
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 239.8-249.
Natural gas edged up on a drop in output over the past few days and forecasts for more demand.
On a daily basis, output was on track to drop by 4.6 bcfd over the past three days to a preliminary 11-week low of 106.6 bcfd
Average gas demand in the Lower 48 states, including exports, would slide from 101.0 bcfd this week to 100.3 bcfd next week.
Meteorologists forecast the weather will remain mostly warmer than normal through April 30.
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