Sell Natural Gas APR @ 358 SL 365 TGT 350-344. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL APR @ 5770 SL 5850 TGT 5680-5620. MCX
Observations
Crudeoil trading range for the day is 5372-6282.
Crude oil dropped OPEC+ to raise crude oil output by 411,000 b/d in May
OPEC cited strong market fundamentals but suggested future increases could be paused if needed.
US President Trump's new tariffs sparked fears of a global trade war, slowing economic growth and reducing fuel demand.
US crude inventories unexpectedly rose by 6.2 million barrels last week, contrary to forecasts.
NATURAL GAS
SELL NATURALGAS APR @ 358 SL 365 TGT 350-344. MCX
Observations
Naturalgas trading range for the day is 332.5-369.9.
Natural gas climbed on a drop in output over the last few days.
EIA said energy firms added 29 bcf of gas into storage during the week ended March 28.
Energy traders said mild weather and low demand last month likely allowed utilities to add gas to storage in March for the first time since 2012.
Gas stockpiles, however, were still about 4% below normal levels for this time of year.
