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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 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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