Buy Nat Gas FEB 2022 @ 286.00 SL 275.00 TGT 298.00-306.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6314-6780.
Crude oil gains as concerns over tight supply and energy disruptions if Russia invades Ukraine linger.
The latest EIA weekly report showed that Cushing crude stockpiles fell for the third week in a row to 31.7 million barrels
OPEC+ expected to stick to planned March output target increase
Barclays hikes 2022 oil price view by $5/bbl on depressed inventories
SELL CRUDEOIL FEB 2022 @ 6540 SL 6660 TGT 6400-6320.MCX
NATURAL GAS
Natural gas trading range for the day is 282.8-341.6.
Natural gas rose on a much-bigger-than-usual weekly storage draw, output that remains slow to return from freezing wells
EIA said utilities pulled a massive 219 billion cubic feet (bcf) of gas from storage during the brutally cold week ended Jan. 21
Average output in the U.S. Lower 48 states fell from a record 97.6 billion cubic feet per day (bcfd) in December to 94.2 bcfd so far in January
The amount of gas flowing to U.S. LNG export plants has averaged 12.5 bcfd so far this month, which would top December's monthly record of 12.2 bcfd.
BUY NAT GAS FEB 2022 @ 286.00 SL 275.00 TGT 298.00-306.00.MCX
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