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Crudeoil 

Observations

Crudeoil trading range for the day is 6130-6700

Crude oil prices recovered driven by renewed optimism arounddemand from top oil importer China

Oil prices in the week had been boosted by strong Chineseeconomic data, underpinning hopes for oil demand growth

EIA report showed that US crude inventories rose by 1.166 millionbarrels last week

Russia announced its plans to cut oil exports from its westernports by up to 25% in March, exceeding its announced outputcurbs

Naturalgas 

Observations

Naturalgas trading range for the day is 223.6-256.8

Natural gas rose due to a jump in US liquefied natural gas (LNG)exports and a bigger-than-expected weekly storage draw.

The amount of gas flowing to the seven big US LNG exportplants rose to 12.8 bcfd so far in February from 12.3 bcfd inJanuary

EIA report showed US utilities pulled 81 bcf of gas from storagelast week, more than market expectations of a 75 bcf drop.

U.S. natural gas prices at the Henry Hub benchmark in Louisianawill average $4.06 per million British thermal units in 2023

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