Sell Crudeoil FEB 2022 @ 6660 SL 6750 TGT 6520-6460.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6386-6694.
Crude oil gains supported by a supply shortage and political tensions in Eastern Europe and the Middle East.
OPEC+ is likely to stick with a planned rise in its oil output target for March
Japan's 2021 oil imports up 0.5% y/y at 2.49 mln bpd – METI
The oil forward curves were in deep backwardation, a market structure that encourages traders to release oil from storage
SELL CRUDEOIL FEB 2022 @ 6660 SL 6750 TGT 6520-6460.MCX
NATURAL GAS
Natural gas trading range for the day is 337-391.6.
Natural gas prices gains helped by forecasts for colder weather and higher heating demand over the next two weeks.
European gas demand seen falling this year due to cheaper coal-IEA
The number of rigs drilling for natural gas in the United States rose by 2 this week to 115
Qatar looks to profit from Europe natural gas fears over Ukraine.
BUY NAT GAS FEB 2022 @ 362.00 SL 345.00 TGT 378.00-386.00.MCX
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