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CRUDEOIL

Crude oil trading range for the day is 6794-7258.

Crude oil rose as investors weighed conflicting statements on the possible withdrawal of some Russian troops from around Ukraine amid tight global supplies.

OPEC President: Oil supply is now not enough, oil companies didn't invest enough

Global oil inventories are exceptionally tight

IEA's Birol again urges OPEC+ to narrow their oil production gap

BUY CRUDEOIL FEB 2022 @ 6800 SL 6680 TGT 6950-7040.MCX

NATURAL GAS

Natural gas trading range for the day is 316.1-362.9.

Natural gas jumped on forecasts of much colder weather and higher heating demand through early March than previously expected.

Average gas output in the U.S. Lower 48 states fell from a record 97.3 bcfd in December to 94.0 bcfd in January and 92.7 bcfd so far in February

U.S. Henry Hub natgas price forecasts, 2022 to ease to 2 – year low

Natural Gas reserves in Germany are depleting rapidly

BUY NAT GAS FEB 2022 @ 322.00 SL 308.00 TGT 336.00-342.00.MCX

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