Buy Nat Gas Mar 2022 @ 356.00 SL 342.00 TGT 370.00-380.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7324-8466.
Crude oil prices dropped after IEA chief Fatih Birol urged oil-producing countries to pump more to stabilise markets affected by the war in Ukraine.
IEA Executive Director Birol: The Ukraine war could affect energy markets for months.
IEA Executive Director Birol: Responsible oil producers should raise output.
Russia's output of oil, gas condensate rises to 11.12 mln bpd so far in March
SELL CRUDEOIL MAR 2022 @ 8400 SL 8650 TGT 8100-7950.MCX
NATURAL GAS
Natural gas trading range for the day is 338.7-368.3.
Natural gas slid as output slowly rises and the weather turns milder than normal for this time of year
The U.S. EIA said utilities pulled 124 billion cubic feet (bcf) of gas from storage during the week ended March 4.
Data provider Refinitiv said average gas output in the U.S. Lower 48 states was on track to rise to 93.4 bcfd in March from 92.5 bcfd in February
U.S. drillers add oil and gas rigs for ninth time in 10 weeks
BUY NAT GAS MAR 2022 @ 356.00 SL 342.00 TGT 370.00-380.00.MCX
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