BUY CRUDEOIL FEB @ 5750 SL 5650 TGT 5850-5950. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL FEB @ 5750 SL 5650 TGT 5850-5950. MCX
Observations
Crudeoil trading range for the day is 5644-5940.
Crude oil rose after a winter storm disrupted U.S. crude output while continued Kazakh outages lent support.
Kazakhstan says Tengiz could reach full oil production within a week
Kazakhstan likely to fall within OPEC+ quotas due to oil output decline
OPEC+ is expected to keep its pause on oil output increases for March.
Natural Gas
BUY NATURALGAS FEB @ 340 SL 336 TGT 348-355. MCX
Observations
Naturalgas trading range for the day is 313.1-374.7.
Natural gas fell as warmer weather forecasts and the return of some frozen wells eased supply concerns.
Output was on track to rise to about 93.5 bcfd after dropping to two-year lows of 92.4-92.5 bcfd over the weekend.
LNG feedgas flows are also recovering, set to increase to around 13.7 bcfd after falling to a one-year low of 11.6 bcfd.
Meteorologists projected weather across the country would remain mostly colder than normal through February 11.
