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Commodities snapshot (energy)

Energy pack is down in today’s trading. Weekly performance at a glance in chart & table,

Oil (WTI) –

  • Oil price is edging higher on Middle East tensions. Today’s range - $56.9-$57.3
  • Active call – Buy targeting $56 per barrel
  • WTI is currently trading at $57.2/barrel. Immediate support lies at $54 area and resistance at $60 area.

Oil (Brent) –

  • Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $63.7-64.3
  • Brent is trading at $6.9 per barrel premium to WTI.
  • Brent is trading at $64.1/barrel. Immediate support lies at $59 area and resistance at $65 region.

Natural Gas –   

  • Natural gas breaks key resistance around $3.15 area and heads higher towards $3.5 area. Today’s range $3.14-3.21      
  • Buy Natural gas targeting $3.43 area
  • Natural Gas is currently trading at $3.2/MMBtu. Immediate support lies at $3.15 area & resistance at and $3.32

WTI

        +2.79%

Brent

        +3.24%

Natural Gas

         +6.52%


           

 

 

 

 

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