BUY CRUDEOIL FEB @ 5760 SL 5660 TGT 5860-5960. MCX-Kedia Advisory
Crudeoil
BUY CRUDEOIL FEB @ 5760 SL 5660 TGT 5860-5960. MCX
Observations
Crudeoil trading range for the day is 5738-5896.
Crude oil dropped as negotiations between the US and Iran are set to continue.
U.S. oil production fell in November to the lowest since July, while oil demand fell to the lowest since April.
The global oil market will be in deep surplus in the first quarter of 2026, the International Energy Agency said.
Money managers raised their net long U.S. crude futures and options positions by 34,074 – CFTC
Natural Gas
BUY NATURALGAS FEB @ 285 SL 280 TGT 292-298. MCX
Observations
Naturalgas trading range for the day is 272.6-299.8.
Natural gas rose on low level buying supported by near-record LNG export flows that boosted demand.
Colder weather earlier in the winter in the U.S. drove heavy withdrawals from underground storage, but forecasts now point to easing demand.
Average gas output in the Lower 48 states climbed to 106.99 bcfd so far in February, up from 106.3 bcfd in January.
Average gas demand in the Lower 48 states, including exports, would fall from 142.5 bcfd this week to 130 bcfd next week.
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