Crudeoil trading range for the day is 5870-6170 - Kedia Advisory
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Crude Oil
Observation
Crudeoil trading range for the day is 5870-6170 Crude oil gains after Saudi to extend its 500,000 bpd cut until the end of 2024 Saudi Arabia pledges new voluntary cut of 1 mln bpd for July Russia extends oil output cut of 0.5 mln bpd until end – 2024 – Novak Russia meets it oil output cuts obligations in full – Novak
Natural Gas
Observation
Naturalgas trading range for the day is 178.3-196.7 Natural gas rose on forecasts for low wind power, warmer weather. The price jump occurred despite near record U.S. output and continued low amounts of gas flowing to LNG export plants. Average gas output in the U.S. Lower 48 states has eased to 102.4 billion cubic feet per day (bcfd) so far in June U.S. exports to Mexico have risen to 7.6 bcfd so far in June, up from 5.9 bcfd in May.
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