Buy Nat Gas Feb 2022 @ 336.00 SL 325.00 TGT 350.00-356.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6582-6964.
Crude oil dropped as investors weigh prospects of new crude supplies from Iran against renewed geopolitical tensions in Ukraine
U.S. crude stockpiles rise despite Cushing draw, record fuel demand – EIA
Crude inventories rose by 1.1 million barrels in the week to Feb. 11 to 411.5 million barrels.
U.S. shale oil production for March is due to rise by about 109,000 barrels per day from the previous month to 8.707 million bpd
SELL CRUDEOIL MAR 2022 @ 7050 SL 7150 TGT 6920-6850.MCX
NATURAL GAS
Natural gas trading range for the day is 312-370.4.
Natural gas fell on a slightly smaller-than-expected storage draw last week and as production slowly recovered.
The United States and Europe have said they would sanction Russia if it invaded Ukraine, likely prompting Russia to cut some gas exports to Europe.
Russia provides around 30-40% of Europe's gas supplies, totaling about 16.3 billion cubic feet per day (bcfd) in 2021.
Russia ready to increase gas supplies to Italy
BUY NAT GAS FEB 2022 @ 336.00 SL 325.00 TGT 350.00-356.00.MCX
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