Buy Naturalgas Mar @ 350 SL 342 TGT 362-370. MCX - Kedia Advisory
Crude Oil
BUY CRUDEOIL MAR @ 5820 SL 5740 TGT 5900-5960. MCX
Observations
Crudeoil trading range for the day is 5772-5892.
Crude oil gains due to the diminishing prospects of a quick end to the Ukraine war.
Oil stocks in US Strategic Petroleum Reserve climb to highest since November 2022, EIA says
IEA sees global oil market surplus for 2025 as demand disappoints
OPEC sticks to global oil demand forecasts, reports output jump
NATURAL GAS
BUY NATURALGAS MAR @ 350 SL 342 TGT 362-370. MCX
Observations
Naturalgas trading range for the day is 339.1-369.1.
Natural gas fell on near record output and predictions of milder weather over the next two weeks.
US utilities withdrew 62 billion cubic feet (bcf) of natural gas from storage.
Average gas output has risen to 105.7 bcfd so far in March, up from a record 105.1 bcfd in February.
Average gas demand, will fall from 111 bcfd this week to 106 bcfd next week.
