IGI Logo

CRUDEOIL

BUY CRUDEOIL FEB @ 6160 SL 6080 TGT 6240-6300. MCX

Observations

Crudeoil trading range for the day is 6082-6262.

Crude oil fell as a potential peace deal between Russia and Ukraine continued to exert downward pressure. U.S. crude stocks rose more than expected last week - EIA

IEA lowered its global oil surplus projections, highlighting strong demand in Asia and sanctions on OPEC+ nations.

Russian oil exports could be sustained if workarounds to the latest U.S. sanctions package are found – IEA

NATURAL GAS

BUY NATURALGAS FEB @ 314 SL 308 TGT 322-328. MCX

Observations

Naturalgas trading range for the day is 302.2-334.

Natural gas gained on rising flows to LNG export plants, a drop in daily output and forecasts for cold weather.

U.S. natural gas output and demand will both rise to record highs in 2025 – EIA

EIA projected dry gas production will rise from 103.1 bcfd in 2024 to 104.6 bcfd in 2025 and 107.3 bcfd in 2026.

The latest projections for 2025 were higher than the EIA's 104.5 bcfd supply and 90.6 bcfd demand forecasts in January.