Natural gas trading range for the day is 193.7-219.7 - Kedia Advisory
Crude oil
Observations
Crudeoil trading range for the day is 5740-6260
Crude oil dropped as concerns about additional output cutsfrom OPEC+ eased.
Russian Prime Minister Alexander Novak said OPEC+ is unlikely totake additional steps in JuneA
A rise in the US dollar amid uncertainty over the debt ceiling alsopressured oil prices down.
US crude inventories unexpectedly declined by 12.456 millionbarrels last week, the largest drop in six months.
Natural gas
Observations
Naturalgas trading range for the day is 193.7-219.7
Natural gas dropped amid record U.S. output, rising Canadianexports
US utilities added 96 bcf of gas into storage, below marketexpectations of a 100 bcf increase.
Higher inventories, output to weigh on US natgas prices thissummer
Average gas output in the U.S. Lower 48 states rose to 101.5billion cubic feet per day (bcfd) so far in May
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