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Crude Oil

Observations

Crudeoil trading range for the day is 5890-6110

Crude oil gains on OPEC+ supply cut uncertainty A deal to raise the U.S. debt ceiling, which appears in sight, would likely boost oil prices.

Russia's Novak does not expect new steps from OPEC+ meeting

Russia's Novak said he expected Brent to be above $80 a barrel by the end of the year

Natural Gas

Observations

Naturalgas trading range for the day is 192.9-209.1

Natural gas fell on a collapse in global gas prices, record U.S. output

Pressure also seen amid forecasts for milder U.S. weather and lower than previously expected demand next week.

Prices declined despite a lack of wind power in recent weeks that forced power generators to burn more gas Average gas output in the U.S.

Lower 48 states rose to 101.5 billion cubic feet per day (bcfd) so far in May

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