Sell Naturalgas Mar @ 342 SL 348 TGT 334-328. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL APR @ 5900 SL 5820 TGT 5980-6060. MCX
Observations
Crudeoil trading range for the day is 5806-6022.
Crude oil gained amid fresh U.S. sanctions on Iranian exports against talks to end the war in Ukraine.
OPEC+ is set to gradually revive production next month, increasing output by 138,000 barrels per day.
Market sentiment was also weighed down by concerns over U.S. trade policies
U.S. commercial crude oil imports fell last week by 85,000 bpd to 5.4 mbpd, the lowest since March 2023.
Natural Gas
SELL NATURALGAS MAR @ 342 SL 348 TGT 334-328. MCX
Observations
Naturalgas trading range for the day is 330-347.4.
Natural gas dropped on record output and forecasts for milder weather.
US gas output on track to hit monthly record in March
US LNG export feedgas set to hit monthly record in March
US gas inventories on track for unusual build in March
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