Buy Crudeoil Feb 2021 @ 3850 SL 3780 TGT 3940-3980.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 3788-3978.
Crude oil prices edged higher with sentiment boosted by vaccination programs getting underway in hard-hit countries and output cuts by major producers like Saudi Arabia.
U.S. oil output rises above 11 million bpd in Nov for first time since April – EIA
Money managers cut their net long U.S. crude futures and options positions in the week to January 26, the U.S. CFTC said
Saudi Arabia expected to cut March crude prices for Asia – survey
BUY CRUDEOIL FEB 2021 @ 3850 SL 3780 TGT 3940-3980.MCX
NATURAL GAS
Natural gas trading range for the day is 185-221.8.
Natural gas jumped on forecasts for much colder weather and higher heating demand over the next two weeks than previously expected.
Despite the increased cold, spot power and gas prices in New York and New England fell after hitting their highest since at least December for Friday.
The amount of gas flowing to U.S. liquefied natural gas (LNG) export plants averaged 10.4 bcfd so far in January
Traders said that was down from December's eight-month high of 91.4 bcfd due in part to freezing of some wells.
BUY NAT GAS FEB 2021 @ 206.00 SL 201.00 TGT 212.00-216.00.MCX
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