Buy Naturalgas Feb @ 280 SL 270 TGT 290-300. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL MAR @ 6080 SL 6180 TGT 5980-5880. MCX
Observations
Crudeoil trading range for the day is 5931-6179.
Crude oil settled flat on profit booking after prices after President Trump set a deadline for Iran to reach a nuclear agreement.
Markets were also considering the impact of ample supply, with talks of OPEC+ leaning towards a resumption in oil output increases from April.
U.S. crude inventories dropped by 9 million barrels as refining utilisation and exports climbed, an EIA report showed.
China's Russian oil imports are set to climb for a third straight month to a new record high in February
Natural Gas
BUY NATURALGAS FEB @ 280 SL 270 TGT 290-300. MCX
Observations
Naturalgas trading range for the day is 260.7-297.5.
Natural gas climbed on near-record LNG export flows and forecasts for colder weather EIA said energy firms pulled a slightly smaller-than-usual 144 billion cubic feet of gas out of storage.
The withdrawal left stockpiles about 6% below normal for this time of year.
Average production in the Lower 48 states climbed to 108.7 bcfd so far in February, up from 106.3 bcfd in January.
