Buy Crudoil Mar @ 5850 SL 5750 TGT 5950-6050. MCX - Kedia Advisory
CRUDE OIL
BUY CRUDEOIL MAR @ 5850 SL 5750 TGT 5950-6050. MCX
Observations
Crudeoil trading range for the day is 5736-6004.
Crude oil gains supported by a weaker US dollar and reduced global oversupply forecasts.
EIA lowered its surplus forecast this year and halved its 2026 glut projection
OPEC said world oil demand will rise by 1.45 mbpd in 2025 and by 1.43 million bpd in 2026.
Libya's Mabruk Oil Operations has resumed production at the Mabruk oilfield after a decade-long shutdown.
NATURAL GAS
SELL NATURALGAS MAR @ 370 SL 380 TGT 355-345. MCX
Observations
Naturalgas trading range for the day is 340.9-395.7.
Natural gas dropped amid rising output and forecasts for milder weather
However, downside seen limited amid higher demand outlook for next week and record flows to LNG export facilities.
Canada would reduce power and gas exports to the U.S. after U.S. President Donald Trump imposed tariffs on Canada and Mexico.
EIA said energy firms pulled 80 billion cubic feet (bcf) of gas out of storage during the week ended February 28.
