Sell Crudeoil MAR 2022 @ 7000 SL 7150 TGT 6800-6700.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6430-6962
Crude oil prices settled flat amid slightly easing Ukraine tensions and signs of negotiations to restore the Iran nuclear deal.
OPEC+ would seek to bring Iran into oil supply deal
Hopes of fresh supplies flooding the market amid tightening supplies and persistent underperformance in production output from OPEC+
US Crude Stockpiles Rise despite Cushing draw, record fuel demand – EIA
SELL CRUDEOIL MAR 2022 @ 7000 SL 7150 TGT 6800-6700.MCX
NATURAL GAS
Natural gas trading range for the day is 318.1-356.5.
Natural gas rose on record LNG exports and a forecast for much colder weather and higher heating demand in two weeks' time.
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
SELL NAT GAS FEB 2022 @ 340.00 SL 355.00 TGT 325.00-318.00.MCX
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