BUY NATURALGAS FEB @ 285 SL 280 TGT 292-298. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL FEB @ 5940 SL 6040 TGT 5840-5740. MCX
Observations
Crudeoil trading range for the day is 5752-6048.
Crude oil prices gained buoyed by potential supply risks should U.S.–Iran tensions escalate.
Venezuelan oil output could return to pre – blockade level by mid – 2026, EIA says
EIA sees 2026 world oil demand of 104.8 mln bpd, vs prior forecast 104.8 mln bpd
sees 2027 demand of 106.1 mln bpd EIA sees 2026 U.S. oil demand of 20.6 mln bpd, vs prior forecast 20.6 mln bpd; sees 2027 demand of 20.7 mln bpd
Natural Gas
BUY NATURALGAS FEB @ 285 SL 280 TGT 292-298. MCX
Observations
Naturalgas trading range for the day is 273-298.8.
Natural gas eased on forecasts for warmer weather and lower demand over the next two weeks than previously expected.
Average gas output climbed to 107.4 bcfd so far in February, up from 106.3 bcfd in January.
Energy firms pulled a record 360 billion cubic feet of gas out of storage during the week ended January 30 to meet surging heating demand. Continued cold last week likely cut inventories down to around 6% below normal during the week ended February 6.
