Sell Crudeoil Mar 2022 @ 8000 SL 8150 TGT 7800-7650.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6932-7824.
Crude oil prices tumbled as supply disruption fears eased and as surging COVID-19 cases in China spurred demand concerns.
Russia backs resumption of Iran nuclear deal
China posts a steep jump in COVID-19 cases
US SPR stocks fall to lowest since July 2002 – EIA
SELL CRUDEOIL MAR 2022 @ 8000 SL 8150 TGT 7800-7650.MCX
NATURAL GAS
Natural gas trading range for the day is 335.8-361.6.
Natural gas slid on forecasts for milder than normal weather and lower heating demand over the next two weeks than previously expected
The U.S. EIA said utilities pulled 124 billion cubic feet (bcf) of gas from storage during the week ended March 4.
Data provider Refinitiv said average gas output in the U.S. Lower 48 states was on track to rise to 93.4 bcfd in March from 92.5 bcfd in February
U.S. drillers add oil and gas rigs for ninth time in 10 weeks
BUY NAT GAS MAR 2022 @ 350.00 SL 340.00 TGT 360.00-365.00.MCX
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