Crudeoil trading range for the day is 6470-6790 – Kedia Advisory


*Crudeoil trading range for the day is 6470-6790

*Crude oil gains amid hopes of Chinese stimulus.

*US crude stocks in SPR fall to lowest since Nov 1983 – EIA

*US crude output rose in January to highest since March 2020 – EIA

*Money managers raised their net long U.S. crude futures and options positions – CFTC




*Naturalgas trading range for the day is 171-189.6

*Natural gas dropped pressured by higher supply and a milder weather outlook.

*The data pointed to an exceptionally light demand in the next seven days and in April 21-24

*U.S. energy firms cut the number of oil and natural gas rigs operating for a second week in a row.

*EIA said utilities pulled 23 billion cubic feet (bcf) of gas from storage during the week ended March 23.



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