Crudeoil trading range for the day is 6090-6460 - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6090-6460
Crude oil dropped as weak U.S. data that raised fears ofrecession
Russian’s Novak said that OPEC+ remains an efficient tool forcoordination on global oil markets.
US crude oil inventories fell by 5.054 million barrels
U.S. crude oil stocks fell by about 6.1 million barrels – API
Natural Gas
Naturalgas trading range for the day is 180.6-203.2
Natural gas fell on rising output
Pressure also seen amid a decline in the amount of gas flowingto U.S. LNG export plants in recent days.
Average gas flows to the seven big U.S. LNG export plants roseto 14.1 billion cubic feet per day (bcfd) so far in April
Average gas output in the U.S. Lower 48 states rose to 100.36bcfd so far in April, up from 99.74 bcfd in March
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