Crudeoil trading range for the day is 6480-6690 - Kedia Advisory
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Crudeoil
*Crudeoil trading range for the day is 6480-6690
*Crude oil dropped on concerns about a weakening global economic outlook.
*Saudi maintains crude supply to Asian refiners despite OPEC+ cuts
*Progress on resuming Iraq northern oil exports in view
*US inflation data to help investors gauge Fed rate hike path
Naturalgas
*Naturalgas trading range for the day is 161.6-193.2
*Natural gas rallied on short covering amid forecasts of slightly colder weather.
*However, the weekend data pointed to an exceptionally light demand in the next seven days and in April 21-24
*U.S. energy firms cut the number of oil and natural gas rigs operating for a second week in a row.
*EIA said utilities pulled 23 billion cubic feet (bcf) of gas from storage during the week ended March 23.
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