Sell Naturalgas Feb @ 295 SL 302 TGT 285-275. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL FEB @ 6360 SL 6440 TGT 6260-6180. MCX
Observations
Crudeoil trading range for the day is 6149-6613.
Crude oil dropped after OPEC+ reaffirmed its gradual output increase.
OPEC+ removed the US EIA from its list of sources for monitoring production.
Russia’s Deputy PM Novak tells committee OPEC+ should stick to policy
Money managers cut their net long U.S. crude futures and options positions - CFTC
Natural Gas
SELL NATURALGAS FEB @ 295 SL 302 TGT 285-275. MCX
Observations
Naturalgas trading range for the day is 260.4-314.8.
Natural gas jumped on forecasts for colder weather and higher heating demand next week.
Support also seen on worries about supplies from Canada related to U.S. President Donald Trump's sanctions.
Average gas output in the Lower 48 U.S. states rose to 105.7 bcfd so far in February, up from 102.5 in January
Goldman Sachs estimates that Canadian natural gas exports to the US could drop by a sound 0.16 bcfd due to tariffs.
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