Buy Nat Gas Mar 2021 @ 192.00 SL 188.00 TGT 197.50-200.00.MCX - Kedia Advisory
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Curde Oil
Crude oil trading range for the day is 4578-4910.
Crude oil prices dropped amid a stronger dollar and concerns over runaway inflation and oversupply.
U.S. crude output to decline less than previously forecast in 2021 – EIA.
China Jan – Feb crude oil output up 0.4% y/y at 32.08 mln tonnes – stats bureau
U.S. oil & gas rig count falls for first time since November -Baker Hughes
BUY CRUDEOIL MAR 2021 @ 4750 SL 4660 TGT 4840-4890.MCX
Natural Gas
Natural gas trading range for the day is 176.1-191.5.
Natural gas fell on forecasts for milder weather and lower heating demand through the end of March than previously expected.
Forecasts for milder weather and lower heating demand in March prompted speculators to cut their net long positions last week
U.S. natural gas production will edge up in 2021, while demand declines for a second year in a row
EIA projected dry gas production will rise to 91.35 bcfd in 2021 and 92.83 bcfd in 2022 from 91.34 bcfd in 2020
BUY NAT GAS MAR 2021 @ 192.00 SL 188.00 TGT 197.50-200.00.MCX
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