01-01-1970 12:00 AM | Source: Kedia Advisory
Crudeoil trading range for the day is 5750-5940 - Kedia Advisory
News By Tags | #473 #5839

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Crude oil

Observations

Crudeoil trading range for the day is 5750-5940

Crude oil dropped as weak economic data from China hurt thedemand.

IEA raised its forecasts for global demand on oil by 200 thousandbpd this year to a record 102 million bpd.

IEA says oil price downturn ignores looming supply crunch

Iraq does not expect OPEC+ to make further cuts at Junemeeting

 

Natural gas

Observations

Naturalgas trading range for the day is 187.6-207.6

Natural gas climbed on concerns over a decline in futureproduction

Data showed energy companies had cut down on the numberof rigs for drilling gas.

Average gas output in the U.S. Lower 48 states was 101.4 bcfd sofar in May.

Refinitiv forecasts that U.S. gas demand, would fall from 91.7bcfd this week to 89.0 bcfd next week.

 

 

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