Buy Crudeoil FEB 2022 @ 6340 SL 6250 TGT 6440-6520.MCX - Kedia Advisory
CRUDEOIL
Crude oil trading range for the day is 6273-6539.
Crude oil gains after a key pipeline running from Iraq to Turkey was hit by an explosion, taking out crucial supply from an already tight market.
Oil output in seven U.S. shale regions seen up in Feb to 8.54 mln bpd – EIA
Permian Oil Production Reached Record High Last Month
OPEC Monthly Report: The oil market is expected to remain well-supported through 2022.
BUY CRUDEOIL FEB 2022 @ 6340 SL 6250 TGT 6440-6520.MCX
NATURAL GAS
Natural gas trading range for the day is 287.8-333.2.
Natural gas slipped on forecasts for less cold and lower heating demand through the end of January than previously expected.
In a reminder of last winter's February freeze, traders noted daily gas demand was expected to reach record highs
Speculators last week covered their shorts and boosted their net long futures and options positions by the most in a week since June.
Data provider Refinitiv said output in the U.S. Lower 48 states averaged 94.6 bcfd so far in January, down from a record 97.6 bcfd in December
BUY NAT GAS JAN 2022 @ 318.00 SL 305.00 TGT 332.00-338.00.MCX
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