Sell Crudeoil Mar 2021 @ 4460 SL 4540 TGT 4360-4310.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4309-4643.
Crude oil gained amid raising expectations that OPEC+ will be rolling over oil production cuts from March into April instead of raising output.
U.S. crude oil stockpiles rose sharply in the most recent week, data from industry group the American Petroleum Institute showed.
OPEC sees positive oil market outlook, continued downside risks
Russia's bid to boost oil output hit by mature fields, cold weather
SELL CRUDEOIL MAR 2021 @ 4460 SL 4540 TGT 4360-4310.MCX
NATURAL GAS
Natural gas trading range for the day is 203.7-212.5.
Natural gas eased on rising output despite forecasts for colder weather and higher heating demand than earlier expected.
Traders noted gas flows to U.S. LNG exports plants was also on track to rise back to near record highs next week.
Refinitiv said output in the Lower 48 U.S. states dropped to an average of 86.5 billion cubic feet per day (bcfd) in February
U.S. natural gas output in the lower 48 states held steady at 102.54 bcfd in December from a revise 102.51 bcfd in November
BUY NAT GAS MAR 2021 @ 205.00 SL 199.00 TGT 212.00-216.00.MCX
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