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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 is recovering as OPEC+ announced 1.2 million barrels of supply reduction.  Today’s range - $51.8- $52.9
  • WTI is currently trading at $52/barrel. Immediate support lies at $45 area and resistance at $55 area.

Oil (Brent) –

  • Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $59.6-60.7
  • Brent is trading at $8.7 per barrel premium to WTI.
  • Brent is trading at $60.7/barrel. Immediate support lies at $57 area and resistance at $63 region.

Natural Gas –   

  • The natural gas price remains elevated thanks to a lower level of inventories. The volatility has increased significantly. Down this week as winter severity less intense.  Today’s range $4.15 -$4.41
  • Natural Gas is currently trading at $4.22/MMBtu. Immediate support lies at $4.1 area & resistance at $5.1     

WTI

         -0.30%

Brent

         -1.07%

Natural Gas

         -6.64%


           

 

 

 

 

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