06-09-2023 12:16 PM | Source: Kedia Advisory
Crudeoil trading range for the day is 5550-6230 - Kedia Advisory
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Crude Oil

Observations

Crudeoil trading range for the day is 5550-6230

Crude oil dropped as US crude output rises to highest since April 2020

US crude inventories draw down unexpectedly, fuel stocks rise – EIA

Gasoline stocks rose by 2.7 million barrels in the week, the EIA said

US 2023 oil output to rise more than previously expected, EIA says

 

Natural Gas

Observation

Naturalgas trading range for the day is 184.8-200.8

Natural gas dropped as mild weather kept demand for the fuel low.

US natural gas stocks rise more than expected: EIA

U.S. natural gas production and demand will rise to record highs in 2023.

The EIA projected dry gas production will rise to 102.74 billion cubic feet per day (bcfd) in 202

 

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