The natural gas trading range for the day is 200.2–211. Natural gas prices dropped after data showed that natural gas supplies in storage in the U.S. rose more than expected last week. Natural gas prices are impacted by the spread between natural gas inventories and their five-year average. EIA said in its weekly report that natural gas storage in the US rose by 67bcf against 61bcf in the week ended April 28.
Crude oil ended with losses on supply glut concerns as official data showed U.S. crude stocks fell less than expected. Crude oil ended with losses on supply glut concerns as official data showed U.S. crude stocks fell less than expected. Rising U.S. production and stubbornly high inventories remain key drivers of the oil price. Iraqi fuel oil exports have soared since January despite a reduction in the country’s crude production in line with OPEC supply cuts, industry sources said.
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