Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is struggling to gain despite OPEC extending production deal and the Middle East tensions. Today’s range - $57-$57.5
• 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. North Sea pipeline burst is pushing Brent higher. Today’s range - $63.7-63.2
• Brent is trading at $6.2 per barrel premium to WTI.
• Brent is trading at $63.4/barrel. Immediate support lies at $59 area and resistance at $65 region.

Natural Gas –   

• Natural gas is grinding lower over the prospects of a warmer winter. Today’s range $2.74-2.66    
• Natural Gas is currently trading at $2.7/MMBtu. Immediate support lies at $2.56, $2.62 area & resistance at and $2.82

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