Sell Crudeoil APR @ 9000 SL 9150 TGT 8850-8700. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL APR @ 9000 SL 9150 TGT 8850-8700. MCX
Observations
Crudeoil trading range for the day is 8547-9647.
Crude oil gained as fresh attacks on key energy infrastructure in the Middle East heightened concerns over disruptions to global oil and gas flows.
Iran conflict effectively shut the Strait of Hormuz and prompted major Middle Eastern producers to significantly curb output.
US crude inventories increased by 6.16 million barrels to 449.3 million, surpassing forecasts of a 0.4 million-barrel rise.
Saudi Arabia's crude oil loadings at its Yanbu port on the Red Sea are set to surge to a record 3.8 mbpd in March
Natural Gas
SELL NATURALGAS MAR @ 296 SL 300 TGT 290-286. MCX
Observations
Naturalgas trading range for the day is 278.8-314.
Natural gas jumped after Iran launched attacks on key energy infrastructure across the Middle East, intensifying supply concerns.
Iran carried out missile strikes on Qatar’s Ras Laffan Industrial City, a complex housing the world’s largest LNG export plant.
Average gas output in the U.S. Lower 48 states rose to 109.8 billion cubic feet per day (bcfd) so far in March.
Meteorologists forecast heating demand would remain low across most of the country through April 2.
