Sell Crudeoil Mar 2022 @ 6980 SL 7100 TGT 6850-6760.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6502-7390.
Crude oil dropped as traders weighed the possibility of any significant disruptions to global crude supplies due to the Russia-Ukraine conflict.
Oil output in seven U.S. shale regions seen up in Feb to 8.54 mln bpd – EIA
Record shale output lifts Argentina monthly oil production to highest since 2011
US shale oil production to rise in March – EIA
SELL CRUDEOIL MAR 2022 @ 6980 SL 7100 TGT 6850-6760.MCX
NATURAL GAS
Natural gas trading range for the day is 318.4-365.4
Natural gas dropped as market sentiment calmed after President Biden's new sanctions against Russia were short of affecting its energy sector.
The U.S. Energy Information Administration (EIA) said utilities pulled 129 billion cubic feet (bcf) of gas from storage during the week ended Feb. 18.
Meanwhile, frigid weather continued to move across most of the US, boosting gas demand for heating.
Refinitiv said average gas output in the U.S. Lower 48 states fell from a record 97.3 bcfd in December to 94.0 bcfd in January
SELL NAT GAS MAR 2022 @ 346.00 SL 360.00 TGT 330.00-332.00.MCX
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