BUY NATURALGAS MAR @ 255 SL 250 TGT 260-265. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL MAR @ 6080 SL 6180 TGT 5980-5880. MCX
Observations
Crudeoil trading range for the day is 5697-6261.
Crude oil gained after Iranian state media said Tehran would not allow enriched uranium to leave the country.
Meanwhile, upside capped amid expectations of a global supply surplus later this year.
Saudi Arabia is poised to ship its highest volume of crude in nearly three years,
while exports from Iraq, Kuwait, and UAE have climbed.
Market participants are now looking ahead to the upcoming OPEC+ meeting for clarity on April production policy.
Natural Gas
BUY NATURALGAS MAR @ 255 SL 250 TGT 260-265. MCX
Observations
Naturalgas trading range for the day is 248.6-266.4.
Natural gas slid on milder weather forecasts that should limit heating demand.
US energy firms withdrew 52 billion cubic feet of natural gas from storage, slightly above expectations for a 36 bcf draw.
Production remains strong, with Lower 48 output averaging 108.7 bcfd in February, up from January.
LNG exports remain robust at 18.7 bcfd and are on pace for a monthly record.
