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Commodities snapshot (energy)

Energy pack is down in today’s trading. Weekly performance at a glance in chart & table,

Oil (WTI) –

  • WTI is struggling to make gains despite OPEC agreement. Today’s range $49.5-50.1
  • WTI is currently trading at $49.8/barrel. Immediate support lies at $48 area and resistance at $52 area.

Oil (Brent) –

  • Brent is down in line with the WTI this week. Today’s range - $52-50.9
  • Brent is trading at $2.3 per barrel premium to WTI. Likely to widen further in the medium term.
  • Brent is trading at $52.1/barrel. Immediate support lies at $50 area and resistance at $56 region.

Natural Gas –   

  • Natural gas is the worst performer of the day. Today’s range $3.30-3.21
  • Resuming long-term bull trend would push the gas price to $4.3 per MMBtu.
  • Natural Gas is currently trading at $3.23/MMBtu. Immediate support lies at $3.15 area & resistance at and $3.5   

WTI

        -0.20%

Brent

        -0.19%

Natural Gas

        -1.82%


           

 

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