Buy Nat Gas Feb 2021 @ 206.00 SL 201.00 TGT 212.00-216.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 3899-4095.
Crude oil gained after major producers showed they were cutting crude output in line with their commitments on restraint
Russia's January oil output up 120,000 bpd to 10.16 mln bpd
Tight oil market in first half could push crude to $65, says Goldman
Speculators cut U.S. crude oil net longs-CFTC
BUY CRUDEOIL FEB 2021 @ 3850 SL 3780 TGT 3940-3980.MCX
NATURAL GAS
Natural gas trading range for the day is 198.4-226.8.
Natural gas soared as a major winter snowstorm battered the Northeast and with forecasts suggesting much colder weather and higher heating demand
Colder than normal weather is now forecast to cover most of the United States over the next 6-10 days and then moderate slightly over the next 8-14 days.
According to the EIA, industrial natural gas consumption in September and October 2020 exceeded consumption in those months in 2019.
The number of rigs drilling natural gas in the US remained unchanged 88 rigs for the week to January 29, said Baker Hughes in a weekly report.
BUY NAT GAS FEB 2021 @ 206.00 SL 201.00 TGT 212.00-216.00.MCX
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