Crudeoil trading range for the day is 5740-5970 - Kedia Advisory
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Crude Oil
Observation
Crudeoil trading range for the day is 5740-5970
Crudeoil dropped as investors remained concerned about demand.
Second Saudi surprise for oil market since
April OPEC+ members had little appetite for joint cut Saudi used the opportunity to fix quotas issue
Natural Gas
Observation
Naturalgas trading range for the day is 182.1-195.9
Natural gas fell as mild weather kept demand for the fuel low
EIA report showed US utilities added 118 billion cubic feet of gas into storage
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 2023
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