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Crudeoil

Observations

Crudeoil trading range for the day is 6460-6800

Crude oil rose amid a surprise production cut of more than 1 mbpd from OPEC+

OPEC+ announces surprise oil output cuts

U.S. sees OPEC+ output cuts as unadvisable, NSC spokesperson says

Japan buys Russian oil above $60-a-barrel cap, breaking with US allies

Naturalgas

Observations

Naturalgas trading range for the day is 169.1-182.5

Natural gas dropped pressured by persistently weak demand and ample inventories.

Average gas output in the U.S. Lower 48 states rose to 98.6 bcfd so far in March, up from 98.1 bcfd in February.

Mild winter weather allowed utilities to leave more gas in storage so far this year

U.S. natgas end of season storage to hit seven year high in October

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