Energy pack is mixed in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Despite the sharp decline over the past weeks, the oil price remains upbeat on Middle East tensions and approaching OPEC meeting. Today’s range - $56.3-$56.9
- Active call – Target reached at $56 per barrel
- WTI is currently trading at $56.6/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 but much worse since last week. Today’s range - $62-62.9
- Brent is trading at $5.8 per barrel premium to WTI.
- Brent is trading at $62.4/barrel. Immediate support lies at $59 area and resistance at $65 region.
Natural Gas –
- Natural gas is continuing range trade despite several breakout attempts. Today’s range $3-3.05
- Buy Natural gas targeting $3.43 area
- Natural Gas is currently trading at $3.03/MMBtu. Immediate support lies at $2.96 area & resistance at and $3.12
WTI |
-0.02% |
Brent |
-0.46% |
Natural Gas |
-3.26% |
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