Sell Natural gas Mar @ 345 SL 352 TGT 336-330. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL MAR @ 6100 SL 6020 TGT 6180-6250. MCX
Observations
Crudeoil trading range for the day is 6029-6177.
Crude oil dropped as markets braced for Washington's tariff threats and Iraq's decision to resume oil exports from the Kurdistan region.
Uncertainty surrounding OPEC's production resumption plans in April and ongoing peace talks to end the war in Ukraine also weighed.
Iraq will export 185,000 barrels per day through state oil marketer SOMO, and that quantity will gradually increase.
President Trump revoked Chevron's license to operate in Venezuela, following fresh sanctions on Iran earlier in the month
Natural Gas
SELL NATURALGAS MAR @ 345 SL 352 TGT 336-330. MCX
Observations
Naturalgas trading range for the day is 331.1-349.9.
Natural gas eased on record output and forecasts for milder weather.
Extreme cold so far this year, has already forced energy firms to pull huge amounts of gas out of storage. Meteorologists projected weather in the Lower 48 states would remain mostly warmer than normal through March 15.
Average gas output rose to 104.7 bcfd so far in February from 102.7 bcfd in January
