Crudeoil trading range for the day is 5740-6080 - Kedia Advisory
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Crude Oil
Observation
Crudeoil trading range for the day is 5740-6080
Crude oil dropped as worries over global economic growthweighed
Saudi Arabia pledged to reduce output by another 1 millionbarrels per day from July
Russia made no commitment to reduce output further, whileUAE was allowed to raise output targets for next year.
UBS raises brent forecast to $95 a barrel by end – 2023
Natural Gas
Observation
Naturalgas trading range for the day is 176.6-194.4
Natural gas fell on lower gas flows to LNG plants, forecasts forless demand.
However, upside seen limited amid a drop in U.S. daily output,rising exports to Mexico.
Average gas output in the U.S. Lower 48 states eased to 102.3billion cubic feet per day (bcfd) so far in June
Meteorologists projected the weather in the Lower 48 stateswould remain mostly near normal through June 14
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