Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is heading higher on Middle East tensions and on speculation that the U.S. might pull out of Iran deal. However, it is rising this week. Today’s range - $64.6-$65.7
• WTI is currently trading at $64.8/barrel. Immediate support lies at $59 area and resistance at $65 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $69.8-68.8
• Brent is trading at $4.1 per barrel premium to WTI.
• Brent is trading at $68.9/barrel. Immediate support lies at $62 area and resistance at $71 region.

Natural Gas –   

• Natural gas is down for the week. Today’s range $2.66-2.64           
• Natural Gas is currently trading at $2.65/MMBtu. Immediate support lies at $2.45 area & resistance at $2.78, and $2.90

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