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CRUDEOIL

Crude oil trading range for the day is 6614-7102.

Crude oil rallied after a massive winter storm swept across the US and disrupted some oil production in the Permian Basin region.

Demand recovery combined with falling stockpiles and supply disruptions have been pushing prices higher.

OPEC and its allies stuck with their plan to release more barrels into a strengthening market gradually.

U.S. crude, distillate stockpiles fall; gasoline builds –EIA

BUY CRUDEOIL FEB 2022 @ 6180 SL 6100 TGT 6280-6350.MCX

NATURAL GAS

Natural gas trading range for the day is 327.6-392.4.

Natural gas slipped on forecasts for less cold and lower heating demand over the next two weeks than previously expected.

The price decline came even as a massive storm battered much of the country from Texas to New York and cut gas output

EIA said U.S. utilities pulled a massive 268 billion cubic feet (bcf) of gas from storage during the brutally cold week ended Jan. 28

Output in the U.S. Lower 48 states fell from a record 97.3 billion cubic feet per day (bcfd) in December to 92.9 bcfd in January and 91.3 bcfd

BUY NAT GAS FEB 2022 @ 308.00 SL 300.00 TGT 318.00-325.00.MCX

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