Sell Nat Gas JAN 2022 @ 308.00 SL 320.00 TGT 296.00-290.00.MCX - Kedia Advisory
CRUDEOIL
Crude oil trading range for the day is 6266-6546.
Crude oil eased as investors booked profits after industry data showed U.S. crude and gasoline stocks rose last week.
IEA said that OPEC+ produced about 800,000 barrels per day (bpd) below its production targets in December
Oil market headed for surplus as Omicron impact muted –IEA
Saudi Arabia expands share in China oil market, Russia lags
BUY CRUDEOIL FEB 2022 @ 6280 SL 6190 TGT 6420-6500.MCX
NATURAL GAS
Natural gas trading range for the day is 269.2-311.
Natural gas dropped dragged down by expectations of lower heating demand amid forecasts for less cold over the next two weeks
Still, US gas demand will likely hit a record high on Friday due to colder than normal weather this week.
On the production side, daily output was on track to drop to 92.4 bcfd, the lowest in since September as wells remained frozen in Texas
At the same time, demand for US LNG continues to be strong as utilities around the world scramble for LNG cargoes to replenish low stockpiles in Europe
SELL NAT GAS JAN 2022 @ 308.00 SL 320.00 TGT 296.00-290.00.MCX
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