Crude Oil trading range for the day is 5920-6130 - Kedia Advisory
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Crude Oil
Observations
Crudeoil trading range for the day is 5920-6130
Crude oil gains after the US government reached a tentative debt ceiling deal
Investors welcomed a tentative deal on the US debt ceiling.
Drone attack damages Russian oil pipeline building - governor
Investors are also preparing for an upcoming OPEC+ meeting later this week
Natural Gas
Observations
Naturalgas trading range for the day is 188.6-206.6
Natural gas fell on a collapse in global gas prices, record U.S. output
Pressure also seen amid forecasts for milder U.S. weather and lower than previously expected demand next week.
Prices declined despite a lack of wind power in recent weeks that forced power generators to burn more gas
Average gas output in the U.S. Lower 48 states rose to 101.5 billion cubic feet per day (bcfd) so far in May
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