Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price heading lower as Russia and Saudi Arabia considers cap easing to the tune of 1 million barrels per day. Today’s range - $70.8-$68.5
• WTI is currently trading at $68.8/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 - $76.6-78.9
• Brent is trading at $8.1 per barrel premium to WTI.
• Brent is trading at $76.9/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 $2.91-2.97
• Natural Gas is currently trading at $2.96/MMBtu. Immediate support lies at $2.62 area & resistance at $2.85, and $2.90

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