BUY CRUDEOIL MAR @ 8700 SL 8600 TGT 8800-8900. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL MAR @ 8700 SL 8600 TGT 8800-8900. MCX
Observations
Crudeoil trading range for the day is 8129-9637.
Crude oil prices fell amid attacks on Gulf oil production and President Trump's call for global efforts to secure the Strait of Hormuz
Top oil exporter Saudi Arabia has cut oil production by some 2 million barrels per day to around 8 million bpd.
UAE daily oil output is down by more than half as the Iran conflict and the effective closure of the Strait of Hormuz
Speculator group raise its combined futures and options position by 17,596 contracts to 115,448 during the period – CFTC
Natural Gas
BUY NATURALGAS MAR @ 276 SL 272 TGT 280-284. MCX
Observations
Naturalgas trading range for the day is 268.7-296.7
Natural gas eased amid a slow rise in output and forecasts for less demand over the next two weeks.
Natural gas production marketed in the U.S. reached a record high of 118.5 bcfd on average in 2025 - EIA
The EIA said the rise was driven by a 60% increase in Henry Hub spot prices to $3.52 MMBtu.
Average gas demand in the Lower 48 states, would drop from 123.6 bcfd this week to 115.8 bcfd next.
