Energy pack is down in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Oil price is struggling as trade tensions weigh on demand, especially the deterioration in relations between Turkey and the U.S. and the weakness in the emerging markets. Today’s range - $64.4-$65.5
- WTI is currently trading at $65.4/barrel. Immediate support lies at $64 area and resistance at $72 area.
Oil (Brent) –
- Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $70.4-71.5
- Brent is trading at $5.8 per barrel premium to WTI.
- Brent is trading at $71.2/barrel. Immediate support lies at $70 area and resistance at $79 region.
Natural Gas –
- The bounce back from $2.7 area is continuing, as the U.S. and the EU have agreed in principle to trade more on gas. Today’s range $2.95-$2.88
- Natural Gas is currently trading at $2.91/MMBtu. Immediate support lies at $2.84 area & resistance at $3.10
WTI |
-3.30% |
Brent |
-2.21% |
Natural Gas |
-0.58% |