Buy Crudeoil Mar 2021 @ 4420 SL 4340 TGT 4520-4590.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4217-4433.
Crude oil prices slid on worries that refineries shut by a big freeze in the U.S. South will take some time to revive operations and dent crude demand.
U.S. crude stockpiles fall sharply in week prior to snow storms –EIA
Crude inventories fell by 7.3 million barrels in the week to Feb. 12, compared with expectations for a decrease of 2.4 million barrels
OPEC+ under pressure to boost output as oil climbs towards peak
BUY CRUDEOIL MAR 2021 @ 4420 SL 4340 TGT 4520-4590.MCX
NATURAL GAS
Natural gas trading range for the day is 213.4-232.6.
Natural gas eased as forecasts showed weather turning less cold
EIA forecast U.S. utilities pulled 237 billion cubic feet (bcf) of gas from storage during the week ended Feb. 12.
The U.S. natural gas output slumped to 72.88 billion cubic feet per day (bcfd) on Wednesday, the lowest level since January 2017.
The U.S. natural gas output slumped to 72.88 billion cubic feet per day (bcfd), the lowest level since January 2017.
BUY NAT GAS FEB 2021 @ 232.00 SL 225.00 TGT 240.00-244.00.MCX
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