Naturalgas trading range for the day is 192.6-210.8 - Kedia Advisory
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Crudeoil
*Crudeoil trading range for the day is 6250-6620
*Crude oil gains as investors remained optimistic about China's fuel demand recovery towards the year's second half.
*At the same time, more output cuts planned by OPEC+ from May could constrict global markets further.
*U.S. SPR crude stocks fall to lowest since Oct 1983 – EIA
*Speculators raise U.S. crude oil net longs – CFTC
Naturalgas
*Naturalgas trading range for the day is 192.6-210.8
*Natural gas edged up on forecasts for colder weather and higher heating demand
*Prices were also up as the amount of gas flowing to LNG export plants remained on track to hit a record high for a second month in April
*Speculators turned their net short positions into net long positions for the first time since June 2022.
*Average gas flows to the seven big U.S. LNG export plants rose to 14.1 billion cubic feet per day (bcfd) so far in April
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