Buy Crudeoil Feb @ 6280 SL 6220 TGT 6360-6420. MCX - Kedia Advisory
CRUDE OIL
BUY CRUDEOIL FEB @ 6280 SL 6220 TGT 6360-6420. MCX
Observations
Crudeoil trading range for the day is 6191-6437.
Crude oil gains as investors focused on tariffs threatened by U.S. President Donald Trump on Mexico and Canada.
U.S. sanctions on Moscow are squeezing crude oil exports from Russia's western ports, which are set to fall 8% in February
US crude stocks increased for the first time in ten weeks, along with a rise in gasoline inventories. Kazakhstan to decide on oil output cuts after OPEC+ meeting
NATURAL GAS
BUY NATURALGAS FEB @ 265 SL 260 TGT 275-285. MCX
Observations
Naturalgas trading range for the day is 258.6-286.4.
Natural gas fell as forecasts pointed to milder weather and weaker demand next week.
US utilities withdrew 321 billion cubic feet (bcf) of natural gas from storage, reducing total inventories to 2,571 bcf.
Storage levels are now 5.3% lower than the same period last year and 4.1% below the five-year average.
Meteorologists projected weather in the Lower 48 states would remain mostly warmer than normal through Feb. 7.
