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Naturalgas trading range for the day is 179.3-203.7 - Kedia Advisory
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Crudeoil
*Crudeoil trading range for the day is 6530-6780
*Crude oil gains as China’s economy grew, boosting the demand outlook.
*US Strategic petroleum reserve dived sharply to the lowest level in nearly four decades last week.
*Russia forecasts stable oil output to 2025, to set up stockpiles
*Crude inventories rose by 597,000 barrels in the last week to 470.5 million barrels
Naturalgas
*Naturalgas trading range for the day is 179.3-203.7
*Natural gas edged up on a preliminary daily output decline and forecasts for more cool weather
*Prices also gained support as the amount of gas flowing to LNG export plants remained on track to hit a record
*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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