Buy Crudeoil S @ 6050 SL 5950 TGT 6150-6220. MCX - Kedia Advisory
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CRUDE OIL:
Observations:
Crudeoil trading range for the day is 5904-6178.
Crude oil gains on concerns about potential trade and supply disruptions amid tensions in the Middle East.
US crude stocks rose last week as refineries recovered from freezing weather.
Azerbaijan's 2024 oil production seen at 29.5 mln T
Money managers raised their net long US crude futures and options positions.
BUY CRUDEOIL S @ 6050 SL 5950 TGT 6150-6220. MCX
NATURAL GAS:
Observations:
Naturalgas trading range for the day is 168.8-178.2.
Natural gas prices fell due to lower demand forecasts and increased output levels
Gas output in the U.S. Lower 48 states rose to an average of 105.4 bcfd in February
Gas production is increasing as more wells resume operations after the mid-January Arctic freeze
Meteorologists project temperatures in the Lower 48 states to remain warmer than normal through at least February 15.
BUY NATURALGAS FEB @ 170 SL 165 TGT 175-180. MCX
