Crudeoil trading range for the day is 6330-6540 - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6330-6540
Crude oil gained amid hopes for a rebound Chinese demand
China's March imports of Russian oil may hit record
U.S. crude oil exports rose to a record high of 5.6 million barrelsper day (bpd) last week.
Russia revealed its plans to cut oil exports from its western portsby up to 25% in March, exceeding its previously announcedoutput curbs.
Naturalgas
Observations
Naturalgas trading range for the day is 217.4-242
Natural gas dropped as rising output and forecasts for lessheating demand next week more than offset abigger-than-expected weekly storage draw.
US natural gas storage falls more than expected: EIA
Average gas output in the US Lower 48 states fell to 97.5 bcfd inFebruary from 98.3 bcfd in January
LNG exports have been growing as Freeport LNG's export plantslowly returned to service after the fire-related shutdown in June2022.
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