BUY NATURALGAS FEB @ 290 SL 285 TGT 296-302. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL FEB @ 5750 SL 5850 TGT 5650-5550. MCX
Observations
Crudeoil trading range for the day is 5526-5984.
Crude oil prices slipped as investors weighed the IEA’s lowering of its global oil demand forecast for 2026.
OPEC forecast world oil demand for crude from the wider OPEC+ producer group will drop by 400,000 bpd in Q2. World demand for OPEC+ crude will average 42.20 mbpd in Q2, down from 42.60 mbpd in the Q1.
Global oil demand to rise by less than expected in 2026, IEA says
Natural Gas
BUY NATURALGAS FEB @ 290 SL 285 TGT 296-302. MCX
Observations
Naturalgas trading range for the day is 282.1-307.1.
Natural gas edged up on near-record flows to liquefied natural gas export plants.
That small price increase came despite forecasts for warmer weather and lower demand next week than previously expected.
U.S. natural gas production to average 120.7 bcf/day in February vs 117.1 bcf/day in January – EIA EIA sees 2026 U.S. natgas demand of 91.6 bcf/day, vs prior forecast 90.3 bcf/d; sees 2027 demand of 91.5 bcf/d
