BUY CRUDEOIL MAR @ 8720 SL 8620 TGT 8860-8980. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL MAR @ 8720 SL 8620 TGT 8860-8980. MCX
Observations
Crudeoil trading range for the day is 8003-9427.
Crude oil prices rose as supplies from the Gulf remain constrained amid U.S. and Israel's war on Iran.
IEA approved its largest-ever emergency oil release, tapping 400 million barrels to curb rising prices
Brent oil prices are set to remain above $95 a barrel over the next two months - EIA
HSBC raised its 2026 average Brent oil price forecast to $80 per barrel, up from its previous forecast of $65 per barrel
Natural Gas
BUY NATURALGAS MAR @ 294 SL 290 TGT 299-303. MCX
Observations
Naturalgas trading range for the day is 284.1-312.5
Natural gas gains tracking European benchmarks as the war in Iran continued to threaten natural gas supply.
Support also seen on forecasts for cooler weather and more demand next week than previously expected.
Strikes between Iran, GCC countries, Israel, and US forces in the region drove Qatar to halt all of its LNG operations.
U.S. natural gas output will rise to a record high in 2026, while demand will decline - EIA
