Crudeoil trading range for the day is 6350-6600 - Kedia Advisory
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Crude Oil
Observations
Crudeoil trading range for the day is 6350-6600
Crudeoil dropped on signs of ample U.S. supplies and expectations of further interest rate hikes
Libya to increase oil production to 2 mln bpd
Resurgent China will drive 2023 oil demand but deficit could loom – IEA
OPEC and IEA raise forecasts for 2023 oil demand growth
Natural Gas
Observations
Naturalgas trading range for the day is 202.4-217.8
Natural gas slid on forecasts for lower demand than previously expected over the next two weeks.
However downside seen limited from a decline in gas output this month
Freeport LNG, was on track to pull in 0.7 bcfd of feedgas on Tuesday, up from 0.5 bcfd on Monday.
EIA said utilities pulled 217 billion cubic feet (bcf) of gas from storage during the week ended Feb. 3.
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