Sell Naturalgas Feb @ 298 SL 305 TGT 290-282. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL FEB @ 6180 SL 6100 TGT 6280-6350. MCX
Observations
Crudeoil trading range for the day is 6131-6347.
Crude oil dropped after President Trump reaffirmed plans to boost US oil production to drive crude prices lower.
Additionally, supply risks persisted as President Trump’s renewed campaign seeks to eliminate Iran's oil exports
U.S.-China trade tariffs cloud oil demand outlook
EIA reported a sharp increase in US crude inventories, posting its largest build in nearly a year
Natural Gas
SELL NATURALGAS FEB @ 298 SL 305 TGT 290-282. MCX
Observations
Naturalgas trading range for the day is 285.6-303.6.
Natural gas edged up on forecasts for colder weather and higher heating demand.
US utilities withdrew 174 billion cubic feet (bcf) of natural gas from storage.
Storage levels are now 8% lower than the same period last year and 4.4% below the five-year average.
US gas production on track for record high in February
