Sell Crude oil FEB 2023 @ 6250 SL 6350 TGT 6450-6550.MCX - Kedia Advisory
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Crude oil
Crude oil trading range for the day is 6122-6434.
Crude oil gained as output from OPEC members declined by 60 thousand bpd to 29.12 million in January
EIA data showed that US crude inventories jumped by 4.14 million barrels last week.
OPEC+ seen sticking with oil output policy, delegates say
OPEC oil output falls as Nigerian rebound falters
SELL CRUDEOIL FEB 2023 @ 6250 SL 6350 TGT 6450-6550.MCX
Natural gas
Natural gas trading range for the day is 197.9-224.1.
Natural gas dropped on forecasts for the weather to turn mostly warmer than normal through mid February
Federal regulators approved Freeport's plan to start sending gas to one of the plant's three liquefaction trains, which turn gas into LNG
Prices were also supported by this week's roughly 3.7 billion cubic feet per day (bcfd) drop in gas output to a one-month low of 93.9 bcfd
Meteorologists forecast temperatures across much of the U.S. Lower 48 states would remain below normal through Feb. 4
BUY NAT GAS FEB 2023 @ 205.00 SL 195.00 TGT 220.00-225.00.MCX
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