Naturalgas trading range for the day is 193.5-216.7 - Kedia Advisory
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Crude Oil
Obersvations
* Crude oil trading range for the day is 6133-6595.
* Crude oil dropped pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand
* U.S. crude inventories soared in weekly supply report
* OPEC+ deal will continue until end of year - Saudi energy minister
* Kazakhstan will supply 100,000 tonnes of oil via Druzhba to Germany in March
Natural Gas
Obersvations
* Natural gas trading range for the day is 174.2-207.4.
* Natural gas slid on forecasts for less cold weather and lower heating demand next week than previously expected.
* That mild weather should allow utilities to keep pulling less gas from storage than normal for this time of year.
* Gas stockpiles were already about 9% above their five-year average (2018-2022) and were on track to rise to about 15% above normal this week.
* EIA said utilities pulled just 100 billion cubic feet (bcf) of gas from storage during the week ended Feb. 10.
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