Crudeoil trading range for the day is 5120-6220 - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 5120-6220 Crude oil extended its slide, falling 7% and hitting its lowest in more than a year Credit Suisse unease sparks global sell-off Chinese economy shows signs of gradual recovery China reopening expected to boost oil demand -IEA
Naturalgas
Observations
Naturalgas trading range for the day is 189.8-221.8 Natural gas dropped as investors monitored forecasts for heating demand and balanced record LNG exports against rising gas output. The total amount of gas flowing to the seven biggest US LNG export plants has increased to 13.1 bcfd so far in March 2023 Average US gas demand, including exports, is expected to rise to 120.4 bcfd next week from 119.8 bcfd this week Latest EIA report showed gas stockpiles were about 22% above their five-year average during the week ended March 3
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