SELL CRUDEOIL APR @ 8800 SL 8900 TGT 8500-8300. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL APR @ 8800 SL 8900 TGT 8500-8300. MCX
Observations
Crudeoil trading range for the day is 8223-9097.
Crude oil rose as the world's biggest supply disruption persisted as Iran denied it had talks with the U.S. to end the war.
Japan plans to start releasing oil from joint stockpiles held by producing nations in the country by the end of March.
Crude oil exports from Saudi Arabia's western Yanbu port rose to nearly 4 million barrels per day last week.
IEA consulting with governments on further oil stock releases, chief Birol says
Natural Gas
SELL NATURALGAS MAR @ 278 SL 283 TGT 272-268. MCX
Observations
Naturalgas trading range for the day is 266.8-286.
Natural gas rose on warmer weather forecasts that are set to curb heating demand.
Forecasts indicated that temperatures will remain above seasonal averages across the western two-thirds of the US through April 1.
Latest EIA data showed US gas stockpiles at 10.4% above year-ago levels and 2.6% above the five-year average.
Average gas output in the U.S. Lower 48 states has risen to 109.6 bcfd so far in March, up from 109.2 bcfd in February
