Sell Naturalgas Apr @ 290 SL 296 TGT 282-276. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL APR @ 5300 SL 5370 TGT 5220-5150. MCX
Observations
Crudeoil trading range for the day is 5180-5370.
Crude oil gains amid a weaker dollar and geopolitical tensions offering some support.
Global oil demand will grow at its slowest rate for five years in 2025 and U.S. production rises will also taper off
World oil demand this year will rise by 730,000 barrels per day, the IEA.
HSBC revised down its Brent crude price forecast, citing rising trade tensions and an expected reduction in global oil demand.
NATURAL GAS
SELL NATURALGAS APR @ 290 SL 296 TGT 282-276. MCX
Observations
Naturalgas trading range for the day is 270.2-298.2.
Natural gas fell due to rising production and mild weather forecasts.
Average gas output in the Lower 48 US states rose to 106.3 billion cubic feet per day so far in April.
Also, warmer-than-usual temperatures are expected to persist through April 29, reducing heating demand.
The number of rigs drilling for natural gas in US rose by 1 to 97.
