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CRUDEOIL

Crude oil trading range for the day is 4127-4297.

Crude oil gains boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures to boost demand.

Brent near $60 as OPEC+ cuts tighten oil market

Oil has rallied from historic lows hit last year, thanks to record OPEC+ output cuts that the group is starting to unwind.

Money managers raised their net long U.S. crude futures and options positions in the week to February 2, the CFTC said.

BUY CRUDEOIL FEB 2021 @ 4200 SL 4140 TGT 4270-4320.MCX

NATURAL GAS

Natural gas trading range for the day is 202-222.

Natural gas prices dropped amid forecasts for a little less heating demand this week than previously expected.

Gas prices across North America soared as homes and businesses cranked up their heaters to escape the blast of arctic air and snow moving from Canada to the U.S. Midwest.

Speculators last week to boost their net long positions to their highest since October 2020 as they cut short positions to the lowest since April 2019.

With much colder weather coming, average gas demand, would jump from 132.6 bcfd this week to 152.6 bcfd next week

BUY NAT GAS FEB 2021 @ 208.00 SL 202.00 TGT 215.00-220.00.MCX

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