Buy Crudeoil Mar @ 6250 SL 6150 TGT 6350-6450. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL MAR @ 6250 SL 6150 TGT 6350-6450. MCX
Observations
Crudeoil trading range for the day is 6211-6385.
Crude oil prices edged up buoyed by concern over oil supply disruptions in Russia.
Meanwhile, drone attacks on Russian oil infrastructure are reducing supplies.
Russia said that CPC oil flows, were reduced by 30-40% after a Ukrainian drone attack on a pumping station.
The North Dakota Pipeline Authority estimating that production down by as much as 150,000 bpd.
Natural Gas
BUY NATURALGAS FEB @ 365 SL 358 TGT 375-385. MCX
Observations
Naturalgas trading range for the day is 335.2-388.8.
Natural gas jumped as extreme cold and cut output by freezing oil and gas wells.
Prices also gained support as gas flows to liquefied natural gas (LNG) export plants hit record highs.
Average gas output in the Lower 48 U.S. states rose to 105.0 billion cubic feet per day (bcfd) so far in February.
Meteorologists projected weather in the Lower 48 states would remain colder than normal through February 22
