SELL CRUDEOIL APR @ 9050 SL 9200 TGT 8850-8720. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL APR @ 9050 SL 9200 TGT 8850-8720. MCX
Observations
Crudeoil trading range for the day is 8609-9263.
Crude oil gains on concerns that protracted fighting in the Middle East will further disrupt energy flows.
Venezuela oil production has reached 1.1 mln bpd in March
US crude oil stockpiles rose last week to highest since June 2024, EIA says
Japan plans to start releasing oil from joint stockpiles held by producing nations in the country by the end of March.
Natural Gas
SELL NATURALGAS APR @ 284 SL 290 TGT 276-270. MCX
Observations
Naturalgas trading range for the day is 270.2-288.8.
Natural gas climbed as the gas market followed the rise in global energy prices due to supply disruptions from the Iran war.
QatarEnergy declaring Force Majeure on LNG delivery contracts to several countries, citing infrastructure damage.
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
Looking forward, meteorologists forecast the weather would remain warmer than normal through April 8.
