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Commodities snapshot (energy)

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

Oil (WTI) –

  • Oil price undergoing a correction as increased supplies from the U.S. threatens price. Today’s range - $61.6-$62.6
  • WTI is currently trading at $62.1/barrel. Immediate support lies at $57 area and resistance at $62 area.

Oil (Brent) –

  • Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement. Today’s range - $64.9-65.5
  • Brent is trading at $3 per barrel premium to WTI.
  • Brent is trading at $65.1/barrel. Immediate support lies at $62 area and resistance at $67 region.

Natural Gas –   

  • Natural gas declining sharply after major spike as winter end nears and inventories are still elevated. Today’s range $2.56-2.62      
  • Natural Gas is currently trading at $2.6/MMBtu. Immediate support lies at $2.45 area & resistance at $2.78, and $2.90

WTI

        +0.65%

Brent

        +0.31%

Natural Gas

         +1.56%


           

 

 

 

 

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