Sell Naturalgas Feb @ 375 SL 382 TGT 365-355. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL MAR @ 6160 SL 6240 TGT 6080-6020. MCX
Observations
Crudeoil trading range for the day is 6031-6357.
Crude oil dropped after an industry report showed a build in U.S. crude stockpiles and as tariff concerns weighed on sentiment.
However downside seen limited driven by concerns over supply disruptions in Russia and improving demand outlook.
Russia reported a 30%-40% reduction in Caspian Pipeline Consortium oil flows after a Ukrainian drone attack on a pumping station.
Crude inventories rose by 4.6 million barrels to 432.5 million barrels in the week ended February 14.
Natural Gas
SELL NATURALGAS FEB @ 375 SL 382 TGT 365-355. MCX
Observations
Naturalgas trading range for the day is 346.7-396.7.
Natural gas rose as cold weather strained supply and boosted demand.
Prices surged as an Arctic blast boosted heating demand while freezing oil and gas wells, disrupting production.
Forecasts indicate colder-than-normal temperatures across the Lower 48 states through February 22, keeping consumption high.
EIA data showed a larger-than-expected 196 bcf storage draw last week, much higher than the 100 bcf withdrawal in the prior period.
