Sell Crude Oil FEB @ 5820 SL 5900 TGT 5720-5620. MCX - Kedia Advisory
CRUDE OIL
SELL CRUDEOIL FEB @ 5820 SL 5900 TGT 5720-5620. MCX
Observations
Crudeoil trading range for the day is 5624-5880.
Crude oil gains on heightened tensions between the US and Iran ahead of a second round of talks.
OPEC+ alliance is considering "resuming output increases" starting in April.
Speculator group raise its combined futures and options position in New York and London by 7,777 contracts to 70,788 – CFTC
China's Russian oil imports are set to climb for a third straight month to a new record high in February.
NATURAL GAS
BUY NATURALGAS FEB @ 275 SL 270 TGT 280-285. MCX
Observations
Naturalgas trading range for the day is 264.6-289.8.
Natural gas slumped as forecasts for warmer weather reduced expectations for heating demand.
Central and southern areas of the US are anticipated to see above-average temperatures over the coming two weeks, according to NOAA.
US working gas inventories are roughly 130 bcf below the five-year average.
Average gas output in the Lower 48 states climbed to 107.4 bcfd so far in February, up from 106.3 bcfd in January.
