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Crudeoil 

SELL CRUDEOIL MAR @ 6050 SL 6130 TGT 5960-5880. MCX

Observations

Crudeoil trading range for the day is 5926-6100.

Crude oil dropped as a potential peace deal between Russia and Ukraine continued to weigh on prices.

Trump's decisions on tariffs against China and other trading partners could hamper economic growth, also weighed.

Oil sanctions in focus after talks between U.S. and Russia

U.S. crude stocks fell by 640,000 barrels in the week ended February 21 - API

Natural Gas 

SELL NATURALGAS MAR @ 355 SL 360 TGT 345-335. MCX

Observations

Naturalgas trading range for the day is 333.6-372.4.

Natural gas fell amid forecasts for warmer weather and record production.

Milder conditions are expected through March 12, reducing demand for natural gas to heat homes and businesses.

February production remains near record levels, rebounding to 104.3 bcfd by February 25.

Gas stockpiles remain 11% below the five-year average after record withdrawals during recent cold weather.