Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price remains elevated over geopolitical tensions surrounding Iran and Venezuela and as inventories slide. Today’s range - $66.3-$65.2
• WTI is currently trading at $65.4/barrel. Immediate support lies at $62 area and resistance at $66 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $68.6-70.1
• Brent is trading at $3.4 per barrel premium to WTI.
• Brent is trading at $68.8/barrel. Immediate support lies at $67 area and resistance at $72 region.

Natural Gas –   

• Natural gas declining sharply after major spike as winter end nears and as contract shifted. Expect elevated volatility. Today’s range $2.92-2.84
• Natural Gas is currently trading at $2.86/MMBtu. Immediate support lies at $2.82, $3.01 area & resistance at and $3.21 and at $3.35

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