Energy pack is up in today’s trading. Weekly performance at a glance in chart & table.
Oil (WTI) –
- WTI is up today but remains under pressure due to fear of rising production in the United States and cheatings within OPEC. Today’s range $51.4-50.7
- With an OPEC and non-OPEC deal done, the oil price is likely to reach $59 and $68 per barrel. However, WTI might decline to $46 per barrel in the short term.
- WTI is currently trading at $51.1/barrel. Immediate support lies at $49 area and resistance at $57 area.
Oil (Brent) –
- Brent is up in line with the WTI. Today’s range - $54.3-53.6
- Brent is trading at $3 per barrel premium to WTI. Likely to widen further.
- Brent is trading at $53.9/barrel. Immediate support lies at $52 area and resistance at $58 region.
Natural Gas –
- Change in weather forced us to change the outllok in natural gas mid high levels of inventory. Sell Natural gas targeting $2.7 per MMBtu. Today’s range $3.21-3.28
- Natural Gas is currently trading at $3.23/mmbtu. Immediate support lies at $2.6, $3.1 area & resistance at $3.5 and $3.75
WTI |
-5.35% |
Brent |
-5.11% |
Natural Gas |
-1.10% |