IGI Logo

Crudeoil

Observations

Crudeoil trading range for the day is 6478-6656.

Crude oil dropped weighed down by U.S. President Trump's plans to boost US oil production.

The new strategy to export American energy all over the world has raised concerns about oversupply in already competitive markets.

North Dakota's oil production was estimated to be down by between 130,000 and 160,000 barrels per day due to extreme cold weather.

Citi raised its oil price outlook for 2025 due to geopolitical risks centred on Russia and Iran

SELL CRUDEOIL FEB @ 6600 SL 6680 TGT 6520-6440. MCX

Naturalgas

Observations

Naturalgas trading range for the day is 313.9-354.7.

Natural gas gained on forecasts for colder weather than previously expected.

Freeport LNG export plant in Texas shut due to power supply problems

U.S. spot natural gas prices soared to multi-year highs with extreme cold expected to boost gas demand.

Average gas output has fallen from 104.2 billion cubic feet per day in December to 103.0 bcfd so far in January

BUY NATURALGAS JAN @ 335 SL 330 TGT 342-348. MCX