Sell Nat Gas Mar 2021 @ 204.00 SL 210.00 TGT 196.50-192.00.MCX - Kedia Advisory
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Curde Oil
Crude oil trading range for the day is 4632-4968.
Crude oil prices rose after OPEC and its allies agreed to not increase supply in April as they await a more solid recovery in demand from the coronavirus pandemic.
OPEC+ extends most oil output cuts into April, Saudi keeps voluntary curb
Russian Deputy Prime Minister Alexander Novak said that global oil markets have not fully recovered from the pandemic but are in better shape now than last year.
Oil production could fall in Permian Basin due to Biden proposal
BUY CRUDEOIL MAR 2021 @ 4665 SL 4580 TGT 4760-4820.MCX
Natural Gas
Natural gas trading range for the day is 193.6-203.6.
Natural gas dropped on forecasts for milder weather over the next two weeks than previously expected.
However, the weather is expected to turn slightly cooler in mid March, which should boost heating demand a bit.
The U.S. EIA said U.S. utilities pulled 98 billion cubic feet (bcf) of gas from storage during the week ended Feb. 26.
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
SELL NAT GAS MAR 2021 @ 204.00 SL 210.00 TGT 196.50-192.00.MCX
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