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Crudeoil

Observations

Crudeoil trading range for the day is 5940-6260

Crude oil gains after IEA Executive Director Fatih Birol said that China’s economy could be poised for a stronger-than-anticipated rebound

Saudi Arabia raised the crude price for Asian markets for the first time in six months.

The European ban on seaborne imports and price caps for Russian oil products also came into effect on Sunday.

Iraq's January production falls 100,000 bpd below OPEC+ quota

Naturalgas

Observations

Naturalgas trading range for the day is 194.2-210.6

Natural gas remained in range as warmer weather next week is expected to further impact the demand.

Federal regulators approved Freeport's plan to start sending gas to one of the plant's three liquefaction trains

However, downside seen limited amid roughly 3.7 bcfd drop in gas output to a one-month low of 93.9 bcfd

Meteorologists forecast temperatures across much of the U.S. Lower 48 states would remain below normal through Feb. 4

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