SELL CRUDEOIL FEB @ 6250 SL 6340 TGT 6150-6050. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL FEB @ 6250 SL 6340 TGT 6150-6050. MCX
Observations
Crudeoil trading range for the day is 6120-6418.
Crude oil dropped on expectations that U.S. crude oil inventories will record another increase, indicating weak demand.
U.S. crude stocks and distillate inventories rose while gasoline stockpiles fell last week - EIA
U.S. oil production is poised to set a larger record this year than prior estimates.
The EIA said it now expects U.S. crude oil production to average 13.59 million barrels per day (bpd) in 2025
Natural Gas
BUY NATURALGAS FEB @ 304 SL 297 TGT 312-318. MCX
Observations
Naturalgas trading range for the day is 298.3-315.9.
Natural gas gained on rising flows to LNG export plants, a drop in daily output and forecasts for cold weather.
U.S. natural gas output and demand will both rise to record highs in 2025 – EIA EIA projected dry gas production will rise from 103.1 bcfd in 2024 to 104.6 bcfd in 2025 and 107.3 bcfd in 2026.
The latest projections for 2025 were higher than the EIA's 104.5 bcfd supply and 90.6 bcfd demand forecasts in January
