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Commodities snapshot (energy)

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

Oil (WTI) –

  • Oil price remains elevated as President Trump moves the U.S. out of the Iran deal. However, struggling as the dollar gains. Today’s range - $72-$70.5
  • WTI is currently trading at $71/barrel. Immediate support lies at $68 area and resistance at $74 area.

Oil (Brent) –

  • Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $79.8-78.5
  • Brent is trading at $8 per barrel premium to WTI.
  • Brent is trading at $79/barrel. Immediate support lies at $75 area and resistance at $82 region.

Natural Gas –   

  • Natural gas is continuing its recovery after finding support around $2.5 area. The best performer of the week. Today’s range $2.9-2.94
  • Natural Gas is currently trading at $2.93/MMBtu. Immediate support lies at $2.62 area & resistance at $2.85, and $2.90

WTI

        -0.42%

Brent

         +0.51%

Natural Gas

         +3.67%


           

 

 

 

 

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