Energy pack is mixed in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Oil price struggling to move higher as Russia and Saudi Arabia considers cap easing to the tune of 1 million barrels per day and as U.S. production continues to rise. The focus is on Friday’s OPEC meeting. Today’s range - $63.6-$65.1
- WTI is currently trading at $65/barrel. Immediate support lies at $61 area and resistance at $67 area.
Oil (Brent) –
- Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $72.4-74.4
- Brent is trading at $9.3 per barrel premium to WTI.
- Brent is trading at $74.3/barrel. Immediate support lies at $72 area and resistance at $77 region.
Natural Gas –
- Natural gas crossed $3 area, likely to face selling pressure around $3.1 area. Today’s range $3.00-3.06
- Natural Gas is currently trading at $3.02/MMBtu. Immediate support lies at $2.85 area 8& resistance at $3.10
WTI |
+1.09% |
Brent |
+1.64% |
Natural Gas |
-0.10% |
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