Energy pack is mixed in today’s trading. Weekly performance at a glance in chart & table.
Oil (WTI) –
- WTI is marginally higher today after bid selloff last night. Today’s range $52.3-53
- With an OPEC and non-OPEC deal done, the oil price is likely to reach $59 and $68 per barrel.
- WTI is currently trading at $52.4/barrel. Immediate support lies at $49 area and resistance at $57 area.
Oil (Brent) –
- Brent is down today in contrast to WTI. Today’s range - $55.4-56.9
- Brent is trading at $3.2 per barrel premium to WTI. Likely to widen further.
- Brent is trading at $55.6/barrel. Immediate support lies at $52 area and resistance at $58 region.
Natural Gas –
- Natural gas suffered heavy selloffs this week as weather improves. We continue to expect natural gas to go to $4.3 area. New targets of $5.5 have been introduced. Today’s range $3.27-3.35
- Natural Gas is currently trading at $3.3/mmbtu. Immediate support lies at $2.6, $3.2 area & resistance at $3.75 and $4.1
WTI |
-2.55% |
Brent |
-2.35% |
Natural Gas |
-12.93% |