Sell Naturalgas Mar @ 380 SL 390 TGT 365-355. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL MAR @ 5750 SL 5700 TGT 5840-5920. MCX
Observations
Crudeoil trading range for the day is 5663-5909.
Crude oil prices rose as U.S. tariff concerns eased and China's finance ministry left the door open to more stimulus measures.
EIA data showed US crude inventories rose more than expected, adding to oversupply concerns.
Signs of weakening US oil demand also emerged, with waterborne crude imports hitting a four-year low in February.
OPEC+ announced it will increase oil output by 138,000 barrels per day starting in April, the first production hike since 2022.
Natural Gas
SELL NATURALGAS MAR @ 380 SL 390 TGT 365-355. MCX
Observations
Naturalgas trading range for the day is 360.4-395.8.
Natural gas dropped amid near-record output and forecasts for less demand next week.
However, downside seen limited on record flows to LNG export plants.
Average gas output in the Lower 48 U.S. states rose to 105.5 bcfd so far in March
U.S. natural gas storage is on track to end the November-March winter withdrawal season at a three-year low.
