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Crudeoil

Observations

Crudeoil trading range for the day is 6129-6579.

Crude oil prices retreated after the U.S. pulled back from initial sanctions threats against Colombia.

Saudi Arabia may hike March oil prices for Asia to highest in over a year

OPEC+ yet to react to Trump call for lower prices

Stocks of crude oil in the US fell for a fell for a ninth consecutive week.

SELL CRUDEOIL FEB @ 6350 SL 6450 TGT 6250-6150. MCX

Naturalgas

Observations

Naturalgas trading range for the day is 268.5-294.1.

Natural gas dropped as traders anticipated a major winter storm expected to impact parts of the US this week.

US utilities withdrew 233 billion cubic feet of natural gas from storage to 2,896 bcf.

Inventories are 1.9% below the corresponding period of the previous year, but remain 0.7% above the ongoing five-year average.

Meteorologists projected that weather in the Lower 48 states would remain colder than normal through Jan. 27

SELL NATURALGAS FEB @ 285 SL 295 TGT 272-265. MCX