Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is treading waters as the focus shifts from OPEC to geopolitical tensions surrounding Iran and Libya. However, President Trump’s tweet demanding Saudi Arabia produce more is weighing on the price.  Today’s range - $69.9-$71.2
• WTI is currently trading at $70.6/barrel. Immediate support lies at $67 area and resistance at $75 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $73.4-75.1
• Brent is trading at $3.5 per barrel premium to WTI.
• Brent is trading at $74.1/barrel. Immediate support lies at $74 area and resistance at $81 region.

Natural Gas –   

• Natural gas heading sharply lower as the bulls fail to clear resistance around $3 area. Today’s range $2.80-$2.83
• Natural Gas is currently trading at $2.81/MMBtu. Immediate support lies at $2.85 area 8& resistance at $3.10