Crudeoil trading range for the day is 6370-6770 - Kedia Advisory
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Crudeoil
*Crudeoil trading range for the day is 6370-6770
*Crude oil dropped as potential U.S. interest rate hikes that could slow growth
*Oil exports from Russia's western ports hit 4-yr high in April
*U.S. crude stocks, fell by about 2.68 million barrels last week – API
*U.S. shale production set to rise to highest on record in May – EIA
Naturalgas
*Naturalgas trading range for the day is 168.1-204.7
*Natural gas dropped on forecasts for mild weather
*However, price decline came despite a drop in preliminary daily output
*Natural gas inventories have risen, and the EIA projects them to remain above average through the summer.
*US natural gas exports will likely average around 12 Bcf/d in 2023, up 14% from last year.
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