Buy Nat Gas Feb 2021 @ 208.00 SL 202.00 TGT 215.00-220.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4210-4330.
Crude oil prices rose after industry data showing a fall in U.S. crude oil stocks added to optimism about an expected rise in global fuel demand
U.S. crude output to decline more than previously forecast in 2021 -EIA
U.S. crude oil stocks fell in the most recent week, data from industry group the American Petroleum Institute showed
IMF sees quick Russian oil output recovery once OPEC+ deal is done, urges investments
BUY CRUDEOIL FEB 2021 @ 4200 SL 4140 TGT 4270-4320.MCX
NATURAL GAS
Natural gas trading range for the day is 194.6-222.2.
Natural gas prices gained as next week's daily peak demand was still expected to set a new record high
Data provider Refinitiv said output in the Lower 48 U.S. states has averaged 90.2 bcfd so far in February.
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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