Buy Naturalgas Feb @ 335 SL 328 TGT 345-352. MCX - Kedia Advisory
CRUDEOIL
BUY CRUDEOIL FEB @ 6200 SL 6120 TGT 6280-6350. MCX
Observations
Crudeoil trading range for the day is 6127-6325.
Crude oil gains as crude exports from Kazakhstan were disrupted after a drone strike hit a Russian pumping station.
OPEC+ is reportedly considering delaying its planned production increases set for April.
U.S. oil production is poised to set a larger record this year than prior estimates - EIA
U.S. crude oil imports from Mexico fell by 372,000 bpd to a weekly record low of 149,000 bpd
NATURAL GAS
BUY NATURALGAS FEB @ 335 SL 328 TGT 345-352. MCX
Observations
Naturalgas trading range for the day is 298.7-360.5.
Natural gas prices gained on rising flows to LNG export plants, a drop in daily output and forecasts for colder weather.
EIA projected dry gas production will rise from 103.1 bcfd in 2024 to 104.6 bcfd in 2025
EIA projected domestic gas consumption would rise from a record 90.2 bcfd in 2024 to 90.7 bcfd in 2025.
Meteorologists projected weather in the Lower 48 states would remain mostly colder than normal through February 22.
