Sell Naturalgas Feb @ 290 SL 295 TGT 282-275. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL FEB @ 6200 SL 6120 TGT 6280-6340. MCX
Observations
Crudeoil trading range for the day is 6131-6409.
Crude oil dropped amid rising U.S. stockpiles and ongoing trade tensions between U.S. and China may dampen demand.
Iran's oil minister said imposing unilateral sanctions on crude producers would destabilise energy markets.
Crude inventories rose by 8.7 million barrels to 423.8 million barrels in the week ended January 31, the EIA said
U.S. gasoline stocks rose by 2.2 million barrels in the week to 251.1 million barrels, the EIA said
Natural Gas
SELL NATURALGAS FEB @ 290 SL 295 TGT 282-275. MCX
Observations
Naturalgas trading range for the day is 271.7-295.3.
Natural gas fell as less gas flows to the nation's liquefied natural gas (LNG) export plants.
Pressure also seen as President Donald Trump suspended his threat of steep tariffs on Mexico and Canada
Average gas output in the Lower 48 U.S. states rose to 106.0 bcfd so far in February, up from 102.7 bcfd in January.
Meteorologists projected weather in the Lower 48 states would switch from warmer than normal through Feb. 8.
