Buy Crudeoil FEB 2022 @ 6950 SL 6820 TGT 7100-7180.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6863-7279.
Crude oil prices rose on fears that a possible invasion of Ukraine by Russia could trigger U.S. and European sanctions that would disrupt exports
IEA's Birol urges OPEC+ to close gap between words and deeds
IEA said the gap between OPEC+ output and its target widened to 900,000 bpd in January.
Speculators cut U.S. crude oil net longs
BUY CRUDEOIL FEB 2022 @ 6950 SL 6820 TGT 7100-7180.MCX
NATURAL GAS
Natural gas trading range for the day is 299-324.2.
Natural gas prices gained in tandem with crude oil, amid fears of military conflict in Ukraine
Still, mid-February forecasts continued to point to warmer weather across the US, decreasing projected demand for heating.
Egypt natural gas exports to reach 7.5 mln tonnes this fiscal year
U.S. natgas output, demand to rise in 2022 – EIA
BUY NAT GAS FEB 2022 @ 302.00 SL 290.00 TGT 315.00-322.00.MCX
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