Crudeoil trading range for the day is 6340-6550 - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 6340-6550
Crude oil rose as investor concern eased about U.S. interest rate hikes and an industry report pointed to a drop in U.S. crude inventories.
API said to report crude stocks fall about 2.2 million barrels
Iranian official sees OPEC+ sticking to policy at next meeting
Russia's oil output steady in February – Deputy PM Novak
Naturalgas
Observations???????
Naturalgas trading range for the day is 186.3-228.5
Natural gas dropped on a slow rise in output as warmer weather thaws frozen oil and gas wells
Pressure also seen as LNG exports decline and on forecasts for mostly mild weather to keep heating demand low through late February.
Freeport liquefied natural gas (LNG) export plant in Texas was on track to start receiving small amounts of natural gas from pipelines
Gas production hit a two-week high of 97.9 bcfd on Tuesday, up from a five-week low of 93.9 bcfd last week
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