Sell Crudeoil Feb 2022 @ 6820 SL 6920 TGT 6700-6640.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6644-7074.
Crude oil gained after the International Energy Agency (IEA) said oil markets were tight
OPEC sees upside to 2022 oil demand forecast on strong pandemic recovery
Saudi Arabia and UAE could ease oil market volatility, IEA says
As nuclear talks resume, Iran's oil exports increase
SELL CRUDEOIL FEB 2022 @ 6820 SL 6920 TGT 6700-6640.MCX
NATURAL GAS
Natural gas trading range for the day is 285-311.4.
Natural gas slipped as output recovers from last week's freezing weather and on forecasts for less cold and lower heating demand
EIA said utilities pulled 222 billion cubic feet (bcf) of gas from storage during the week ended Feb. 4
The total amount of gas in storage fell to 2.101 trillion cubic feet (tcf), or 9.3% below the five-year average of 2.316 tcf for this time of the year.
Output has been rising almost daily hitting 94.2 bcfd since it dropped to 86.3 bcfd during a winter storm on Feb. 4, its lowest since February 2021.
BUY NAT GAS FEB 2022 @ 292.00 SL 280.00 TGT 305.00-310.00.MCX
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