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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) –

  • Despite the sharp decline over the past weeks, the oil price remains upbeat on Middle East tensions and approaching OPEC meeting. Today’s range - $56.6-$58.9
  • Active call – Target reached at $56 per barrel
  • WTI is currently trading at $58.7/barrel. Immediate support lies at $54 area and resistance at $60 area.

Oil (Brent) –

  • Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement but much worse since last week. Today’s range - $63.9-63.3
  • Brent is trading at $5 per barrel premium to WTI.
  • Brent is trading at $63.7/barrel. Immediate support lies at $59 area and resistance at $65 region.

Natural Gas –   

  • Natural gas is continuing range trade despite several breakout attempts. It is currently heading to test the range floor. Today’s range $2.87-2.93     
  • Natural Gas is currently trading at $2.89/MMBtu. Immediate support lies at $2.96 area & resistance at and $3.12

WTI

        +3.69%

Brent

        +1.61%

Natural Gas

         -7.60%


           

 

 

 

 

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