BUY CRUDEOIL FEB @ 5680 SL 5600 TGT 5770-5850. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL FEB @ 5680 SL 5600 TGT 5770-5850. MCX
Observations
Crudeoil trading range for the day is 5392-5872.
Crude oil gains amid imminent war-threat in Middle East
CPC said its export terminal on the Black Sea coast has returned to full-capacity operations.
Losses were capped by supply disruptions in the US and elevated geopolitical risks.
US producers are estimated to have lost roughly 15% of national output over the weekend due to a massive winter storm.
Natural Gas
SELL NATURALGAS FEB @ 358 SL 364 TGT 350-345. MCX
Observations
Naturalgas trading range for the day is 324-368.8.
Natural gas prices rose after an Arctic blast froze oil and gas wells and pipes, cutting gas production to a two-year low.
Freezing temperatures continue to sweep across large parts of the US, lifting heating and power demand and straining electricity grids.
Average output in the Lower 48 has fallen to around 106.9 bcfd so far in January from a record 109.7 bcfd in December.
Gas flows to US LNG export plants dropped to the lowest level in a year.
