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CRUDEOIL

Crude oil trading range for the day is 4299-4421.

Crude oil prices rose as a cold front shut wells and refineries in Texas

Prices also gained as Yemen’s Iran-aligned Houthi group said it struck airports in Saudi Arabia with drones, raising supply concerns

U.S. oil wells, refineries shut as winter storm hits energy sector

Money managers raised their net long U.S. crude futures and options positions in the week to February 9

BUY CRUDEOIL FEB 2021 @ 4340 SL 4280 TGT 4400-4440.MCX

NATURAL GAS

Natural gas trading range for the day is 210.9-240.3.

Natural gas jumped as a frigid blast across the United States disrupted pipeline flows and pushed up heating demand.

In their latest forecasts, meteorologists projected average U.S. temperatures will remain well below normal through Feb. 21.

Starting Feb. 22, however, the weather was expected to turn mild and stay that way through the end of the month.

U.S. natural gas storage is expected to end the November-March withdrawal season at 1.650 tcf the lowest since 2019.

BUY NAT GAS FEB 2021 @ 218.00 SL 212.00 TGT 224.00-228.00.MCX

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