SELL CRUDEOIL MAR @ 6020 SL 6080 TGT 5940-5880. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL MAR @ 6020 SL 6080 TGT 5940-5880. MCX
Observations
Crudeoil trading range for the day is 5818-6234.
Crude oil settled lower as worries about growth and uncertainty about the outlook for oil demand weighed.
Kazakhstan hikes oil output to a record high of 2.12 mln bpd in February
Money managers cut their net long U.S. crude futures and options positions, the U.S. CFTC said.
U.S. crude oil output set records in December, and oil demand touched multi-month highs, the U.S. EIA said
NATURALGAS
SELL NATURALGAS MAR @ 365 SL 372 TGT 355-348. MCX
Observations
Naturalgas trading range for the day is 312.4-387.
Natural gas jumped with flows to LNG export plants near record highs.
Storage levels remain about 12% below the five-year average due to earlier extreme cold.
Increased flows to Venture Global’s Plaquemines LNG plant, which reached 1.8 bcfd last week, contributed to the rise.
The number of rigs drilling for natural gas in the United States rose by 3 this week to 102
