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Naturalgas trading range for the day is 195.9-224.5 - Kedia Advisory
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Crude Oil
Observations
Crudeoil trading range for the day is 6380-6680
Crude oil dropped after the US announced plans to release 26 million barrels of oil from strategic reserves
OPEC expects oil demand to rise by 590,000 bpd in 2023
Producer group also raised global economic growth forecast
OPEC output fell by 49,000 bpd in January
Natural Gas
Observations
Naturalgas trading range for the day is 195.9-224.5
Natural gas jumped on a rapid increase in liquefied natural gas exports following the partial return of Freeport LNG's export plant in Texas.
Prices also gained support from a decline in gas output this month and forecasts for colder weather.
Freeport LNG, was on track to pull in 0.7 bcfd of feedgas on Tuesday, up from 0.5 bcfd on Monday.
EIA said utilities pulled 217 billion cubic feet (bcf) of gas from storage during the week ended Feb. 3.
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