Energy pack is mixed in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- WTI is down today despite a Reuters report based on unnamed that OPEC agreed to a nine-month extension to the current deal. Today’s range $52-50
- WTI is currently trading at $50.8/barrel. Immediate support lies at $48 area and resistance at $52 area.
Oil (Brent) –
- Brent is a weaker performer than the WTI this week. Today’s range - $52.7-54.7
- Brent is trading at $2.7 per barrel premium to WTI. Likely to widen further in the medium term.
- Brent is trading at $53.5/barrel. Immediate support lies at $50 area and resistance at $56 region.
Natural Gas –
- Natural gas’ performance improved as it moves in reverse to oil price. Today’s range $3.26-3.19
- Resuming long-term bull trend would push the gas price to $4.3 per MMBtu.
- Natural Gas is currently trading at $3.25/MMBtu. Immediate support lies at $3.15 area & resistance at and $3.5
WTI |
+0.20% |
Brent |
-0.56% |
Natural Gas |
-0.03% |