Choice Commodity Research

Sumeet Bagadia’s Desk:Sell SILVERMIC|30APR26 in Commodity @ 271851 SL 275510 TGT 264533.00

Global Conflict Update Drone strikes on energy infrastructure in Oman sparked fires near the Port of Salalah and forced vessel evacuations from Mina Al Fahal Terminal, a key export hub handling nearly one million barrels of crude daily. Impact: Positive for Energy. -Choice Broking

*Calendar Spread* Sumeet Bagadia's Desk: Sell CRUDEOIL 19th Mar 1 lot @ 8749 Buy CRUDEOIL 20th Apr 1 lot @ 8694 Spread : -55 SL: -110, TGT: 70 Max loss: 5500 Max Profit: 12500 Risk - Reward : 1 : 2.25 Margin Required: 229,600 Duration: 4 -6 days

Calendar Spread - CRUDEOIL,Target - 70.00| Stop Loss - -110.00.Check out details:https://finx.choiceindia.com/research-report/research/option_strategy/report

Saudi Oil Production Surges Before War Organization of the Petroleum Exporting Countries reported that Saudi Arabia sharply increased oil production in February to 10.882 million bpd from 10.10 million bpd in January ahead of United States and Israel strikes on Iran, lifting supply to 10.111 million bpd as part of contingency plans amid escalating regional tensions. Impact: slightly Negative for Crude Oil. -Choice Broking

Natural Gas Update Natural gas futures rose as Middle East tensions persisted and ceasefire prospects remained uncertain. The conflict shut Qatar’s Ras Laffan LNG terminal and closed the Strait of Hormuz, tightening global supply despite ample US inventories and the IEA’s emergency oil reserve release. -Choice Broking

Rupee Update The Indian rupee weakened to a record low near 92.3 per dollar as escalating Middle East tensions boosted dollar demand and oil supply concerns. -Choice Broking

Bullion Update Bullion prices declined, extending losses as persistent inflation concerns reduced expectations for interest rate cuts. Rebounding oil prices sustained inflation risks, while steady US CPI data strengthened the dollar, and reinforced expectations of only one rate cut this year. -Choice Broking

Crude oil resumed gapped up at UC of 6% @ 8593, NG gapped up by +2.25%

Global Market Update • The United States and Iran are engaged in prolonged conflict, with President Trump emphasizing the need to "finish the job" while Iran threatens $200 oil prices due to attacks on tankers in the Strait of Hormuz. • Iran has communicated that it will only consider a ceasefire if the US guarantees no further strikes, a condition the US is unlikely to accept. • The situation in the Strait of Hormuz is worsening, with reports of Iran laying naval mines. • Iraq has paused oil terminal operations following attacks on oil tankers, raising supply risk concerns in the region. • Oman is evacuating ships from key oil terminals amid ongoing Iranian assaults. • The dollar index is approaching 99.5, reflecting inflationary pressures and reduced expectations for Federal Reserve interest rate cuts. • February U.S. inflation data matched forecasts, indicating stable but elevated CPI. • The Fed is expected to maintain the federal funds rate in the upcoming week, with traders anticipating only a possible 25 basis point cut in September. • In response to the supply issues, the IEA has initiated a record release of 400 million barrels from emergency reserves, including significant contributions from the US and Japan, though the effort has not sufficiently reassured traders. • The U.S. is initiating a Section 301 trade investigation addressing excess industrial capacity, including China after the Supreme Court struck down a key element of Trump-era tariffs last month. -Choice Broking

*US Crude Oil Inventories* Actual : 3.8M Forecast: 2.8M Prev.: 3.5M Impact : Negative for Crude Oil *US Distillate Inventories* Actual : -1.3M Forecast: -0.2M Prev.: 0.4M Impact : Positive for Crude Oil *US Gasoline Inventories* Actual : -3.7M Forecast: -2.0M Prev.: -1.7M Impact : Positive for Crude Oil

Sumeet Bagadia’s Desk : Stopped Out @ 18.8...Buy in Commodity NATURALGAS|24MAR26 CE 290.00 @ 20.4 SL 18.8 TGT 23.60

Sumeet Bagadia’s Desk:Buy NATURALGAS|24MAR26 CE 290.00 in Commodity @ 20.4 SL 18.8 TGT 23.60

*US Core CPI m/m* Actual : 0.2% Forecast: 0.2% Prev.: 0.3% Impact : Neutral for Bullion *US CPI m/m* Actual : 0.3% Forecast: 0.3% Prev.: 0.2% Impact : Neutral for Bullion *US CPI y/y* Actual : 2.;% Forecast: 2.4% Prev.: 2.4% Impact : Neutral for Bullion

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in COPPER|31MAR26

Sumeet Bagadia’s Desk : Book Part Profit @ 1199.8...Sell in Commodity COPPER|31MAR26 @ 1201.2 SL 1203 TGT 1197.60

Sumeet Bagadia’s Desk : Stopped Out @ 282.5...Buy in Commodity NATURALGAS|26MAR26 @ 284.3 SL 282.5 TGT 287.90

Sumeet Bagadia’s Desk:Sell COPPER|31MAR26 in Commodity @ 1201.2 SL 1203 TGT 1197.60