Sell Crudeoil Mar 2022 @ 8400 SL 8650 TGT 7900-7650.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7837-8703.
Crude oil gains as investors weighed escalating bans on Russian oil against efforts to bring more supply to the market from other major producers.
The UAE took a step back from assurances it would encourage fellow OPEC members to boost their production above their agreed quotas
Russia pledges to fulfil contractual obligations
UAE officials give differing views on output plans
SELL CRUDEOIL MAR 2022 @ 8400 SL 8650 TGT 7900-7650.MCX
NATURAL GAS
Natural gas trading range for the day is 350-375.6.
Natural gas rose as cold weather was set to cut output to its lowest in a month
That increase came despite forecasts for output to rise and the weather to remain mild over the next two weeks
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
BUY NAT GAS MAR 2022 @ 350.00 SL 340.00 TGT 362.00-370.00.MCX
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