BUY CRUDEOIL MAR @ 8900 SL 8800 TGT 9050-9200. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL MAR @ 8900 SL 8800 TGT 9050-9200. MCX
Observations
Crudeoil trading range for the day is 8184-9632.
Crude prices rose after Iran's Revolutionary Guards threatened several energy facilities across Saudi Arabia, UAE, and Qatar.
Iran's Fars news agency said some tanks and gas facilities in the country's Asaluyeh refinery had been hit.
Saudi Arabia's crude oil loadings at its Yanbu port on the Red Sea are set to surge to a record 3.8 mbpd in March.
U.S. crude stocks rose by 6.56 million barrels in the week ended March 13, market sources said, citing API figures.
Natural Gas
BUY NATURALGAS MAR @ 282 SL 278 TGT 286-290. MCX
Observations
Naturalgas trading range for the day is 264.5-297.1.
Natural gas edged up on a drop in output over the past few days, likely due to freezing pipes in North Dakota.
That price increase came despite forecasts for milder weather and lower heating demand over the next couple of weeks.
Average gas output in the U.S. Lower 48 states rose to 109.9 bcfd so far in March, up from 109.2 bcfd in February.
U.S. natural gas prices at the Henry Hub benchmark in Louisiana will rise to an average of $3.94 per mmbtu in 2026.
