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CRUDEOIL

Crude oil trading range for the day is 3764-3968.

Crude oil prices climbed after industry data showed U.S. crude stockpiles fell unexpectedly last week and China, reported its lowest daily rise in COVID-19 cases.

Russia's oil heartland poised for rebound after output cut

OPEC+ Jan compliance with oil cuts reaches 85%

India's December crude oil imports jump to 2-year high

BUY CRUDEOIL FEB 2021 @ 3840 SL 3780 TGT 3900-3936.MCX

NATURAL GAS

Natural gas trading range for the day is 186.1-207.7.

Natural gas rose on forecasts for colder weather and higher heating demand through mid February than previously expected.

Data provider Refinitiv said output in the Lower 48 U.S. states averaged 91.2 billion cubic feet per day (bcfd) so far in January.

Refinitiv projected that milder weather would cause average gas demand, including exports, to fall from 128.4 bcfd this week to 122.8 bcfd next week.

EIA's projections for 2021 in January were higher than its December forecasts of 87.91 bcfd for supply and 79.37 bcfd for demand.

BUY NAT GAS FEB 2021 @ 188.00 SL 183.50 TGT 193.50-195.80.MCX

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