Buy Crudeoil Mar @ 6100 SL 6020 TGT 6180-6250. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL MAR @ 6100 SL 6020 TGT 6180-6250. MCX
Observations
Crudeoil trading range for the day is 5933-6267.
Crude oil rose as supply concerns resurfaced after U.S. President Trump's revoked a licence granted to Chevron to operate in Venezuela.
Gains were capped, however, by signs of a potential peace deal in Ukraine, which could result in higher Russian oil flows.
Chevron exports about 240,000 bpd of crude from its Venezuela operations, more than a quarter of the country's entire oil output.
U.S. crude oil stockpiles fell unexpectedly as refining activity ticked higher.
Natural Gas
SELL NATURALGAS MAR @ 350 SL 355 TGT 342-335. MCX
Observations
Naturalgas trading range for the day is 330.2-364.
Natural gas eased on near record output, mild weather and forecast for less heating demand.
US utilities withdrew 261 billion cubic feet (bcf) of natural gas from storage
Mild weather allows frozen wells to return to service
US LNG export feedgas on track for record high in February NATURALGAS APR-MAR 5.60
