Energy pack is up in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Oil price is moving down despite Middle East tensions as inventories continue to build amid sharply higher production. Broad trend is still bullish. Today’s range - $59.8- $61.3
- WTI is currently trading at $61.1/barrel. Immediate support lies at $56 area and resistance at $62 area.
Oil (Brent) –
- Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. The recent disappearance of a Washington Post journalist at Saudi Consulate has triggered an international backlash and the market is pushing prices higher on fear of sanctions on Saudi Arabia. Today’s range - $69.6-71.9
- Brent is trading at $10 per barrel premium to WTI.
- Brent is trading at $71.1/barrel. Immediate support lies at $68 area and resistance at $75 region.
Natural Gas –
- The natural gas price has reached the target $3.47 per MMBtu. Likely to test $4 area. The price is currently at $3.48 per MMBtu. Today’s range $3.71-$3.91
- Natural Gas is currently trading at $3.79/MMBtu. Immediate support lies at $3.53 area & resistance at $3.96
WTI |
+1.50% |
Brent |
+1.28% |
Natural Gas |
+1.88% |