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Crude oil trading range for the day is 5992-6336.

Crude oil recovered from lows after official data showed that US fuel inventories declined sharply last week following a winter storm in the US.

EIA data showed that US distillate stocks, which include diesel and heating oil, fell by 1.427 million barrels last week

US crude and refined product exports also rose by 1.33 million barrels last week, signaling robust global demand and keeping supply tight.

U.S. petroleum product supplied falls by record amount last week – EIA

BUY CRUDEOIL JAN 2023 @ 6100 SL 6020 TGT 6200-6280.MCX

Natural gas trading range for the day is 288.6-335.4.

Natural gas gained on low level recovery after prices dropped on forecasts for warmerthan-normal weather

EIA said utilities pulled 221 billion cubic feet (bcf) of gas from storage during the week ended Dec. 30

Average gas output in the U.S. Lower 48 states has risen to 98.3 bcfd so far in January, up from 96.7 bcfd in December

U.S. gas demand, would jump from 110.4 bcfd this week to 121.6 bcfd next week as temperatures ease.

BUY NAT GAS JAN 2023 @ 305.00 SL 290.00 TGT 325.00-345.00.MCX

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