Crudeoil trading range for the day is 5810-6180 - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 5810-6180
Crude oil gains on U.S. government's plans to refill the emergency oil reserve
UAE energy minister: OPEC+ voluntary cuts aimed to balance oil market
China's April crude oil imports fall to lowest since January
U.S. crude output fell in February to lowest since December 2022 – EIA
Naturalgas
Observations
Naturalgas trading range for the day is 176.7-194.5
Natural gas rose on a decline in U.S. daily output
Support also seen amid a drop in gas exports from Canada as wildfires shut in some oil and associated gas production.
However, upside seen limited amid forecasts for milder weather and less U.S. demand over the next two weeks than previously expected.
EIA said utilities added 54 billion cubic feet (bcf) of gas into storage
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