BUY NATURALGAS MAR @ 260 SL 255 TGT 265-270. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL MAR @ 6060 SL 6160 TGT 5960-5860. MCX
Observations
Crudeoil trading range for the day is 5896-6176.
Crude oil dropped as traders look ahead to a third round of nuclear talks between the U.S. and Iran on Thursday in Geneva.
North Dakota oil production down 76,000 bpd in December vs November to 1,122,000 bpd Libya restarts production at Sinawan oilfield after over three – year halt
UBS set a new end-March 2027 Brent forecast of $67 per barrel and widened its assumed WTI-Brent discount to $4 a barrel from $3.
Natural Gas
BUY NATURALGAS MAR @ 260 SL 255 TGT 265-270. MCX
Observations
Naturalgas trading range for the day is 255.7-271.3.
Natural gas eased on near-record daily output and forecasts for milder weather.
Average gas output in the Lower 48 states climbed to 108.6 bcfd so far in February, up from 106.3 bcfd in January.
LSEG projected average gas demand in the Lower 48 states, would rise from 125.2 bcfd this week to 133.1 bcfd next week.
Natural gas speculators in four major NYMEX, ice markets cut net long position by 19,927 contracts to 124,810 in week to February 17 - CFTC
