Crudeoil trading range for the day is 5560-5990 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Crudeoil
Observation
Crudeoil trading range for the day is 5560-5990
Crude oil rose as China's oil refinery in May rose 15.4% from a year earlier
The IEA said in its monthly report that global oil demand will rise by 6% between 2022 and 2028.
Data showed that US crude inventories surged by 7.919 million barrels last week, the most in 17 weeks
UBS expects a supply deficit of around 1.5 mbpd in June and more than 2 million bpd in July.
Natural Gas
Naturalgas trading range for the day is 183-223.6
Natural gas climbed on soaring gas prices in Europe and a decline in US output.
US utilities added 84 bcf of gas into storage during the week ended June 9, 2023, less than market expectations
Average gas output in the U.S. Lower 48 states slid to 101.9 billion cubic feet per day (bcfd) so far in June
Meteorologists forecast the weather would remain mostly near normal from June 15-22 before turning hotter-than-normal from June 23-30.
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
