Sell Naturalgas Jan @ 345 SL 353 TGT 335-328. MCX - Kedia Advisory
Crudeoil
Observations
Crudeoil trading range for the day is 6618-6996.
Crude oil surged as new US sanctions on Russia’s energy sector raised concerns about supply disruptions.
Prices were also supported by optimism around increased fuel demand from icy conditions in the U.S. and Europe.
Support also seen amid falling US stockpiles, colder weather, and speculation that the incoming Trump administration may tighten sanctions on Iran.
Cold weather in the US reduced inventory levels at Cushing, Oklahoma, to their lowest since 2014.
SELL CRUDEOIL JAN @ 6880 SL 6980 TGT 6780-6680. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 312.4-379.6.
Natural gas dropped amid a reduction in the amount of gas curtailed by freezing pipes.
Prices declined despite forecasts for colder weather and more heating demand next week than previously expected.
Meteorologists expect below-average temperatures across much of the US through January 25, with even chillier conditions ahead.
LNG exports hit record levels, with feedgas flows climbing to 15.5bcfd, including increased activity at Texas’s new Plaquemines LNG plant.
SELL NATURALGAS JAN @ 345 SL 353 TGT 335-328. MCX
