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Crudeoil

SELL CRUDEOIL APR @ 6180 SL 6250 TGT 6100-6050. MCX

Observations

Crudeoil trading range for the day is 6014-6222.

Crude oil gains amid Trump's recent threat of secondary duties on Russian oil and increased sanctions on Iran

U.S. crude oil production fell by 305,000-barrels-per-day (bpd) to 13.15 million bpd in January

Crude oil inventories in the US rose by 6.165 million barrels - EIA

API data showed crude oil rose by 6 million barrels, while gasoline fell by 1.6 million barrels.

Natural gas

SELL NATURALGAS APR @ 355 SL 362 TGT 345-335. MCX

Observations

Naturalgas trading range for the day is 333.7-357.1.

Natural gas climbed on a drop in daily output.

US gas output on track to drop from record high in March

US LNG export feedgas on track to drop from record high in March

US gas inventories on track for rare build in March