Buy Naturalgas Feb @ 265 SL 260 TGT 270-275. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL MAR @ 5950 SL 6050 TGT 5850-5750. MCX
Observations
Crudeoil trading range for the day is 5576-6090.
Crude oil gains as geopolitical tensions heightened following the abrupt end of Ukraine Russia peace talks in Geneva.
Oil production at Kazakhstan's giant Tengiz oil field is gradually increasing after an outage in January. Reports suggesting that OPEC+ is considering resuming output hikes in April.
The IEA reaffirmed its projection of a significant surplus in 2026 and lowered its forecast for oil demand growth.
Natural Gas
BUY NATURALGAS FEB @ 265 SL 260 TGT 270-275. MCX
Observations
Naturalgas trading range for the day is 259.8-281.
Natural gas fell as near-record production and milder weather forecasts eased supply concerns.
Warmer-than-normal conditions are expected across much of the country through early March, keeping heating demand subdued.
Output in the Lower 48 states averaged about 108.5 bcfd in February, up from 106.3 bcfd in January and close to December’s monthly record. At the same time, flows to major US LNG export plants climbed to 18.6 bcfd in February, above January levels.
