Energy pack is up in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Oil price is up today but remains under selling pressure for a fourth consecutive day, dogged by a supply glut in the market despite supply shrinkage by OPEC. Further declines likely. Today’s range $43.1-42.7
- WTI is currently trading at $42.8/barrel. Immediate support lies at $42 area and resistance at $45 area.
Oil (Brent) –
- Brent is down this week in line with WTI. Today’s range - $46.6-45.1
- Brent is trading at $2.5 per barrel premium to WTI. Likely to widen further in the medium term.
- Brent is trading at $45.3/barrel. Immediate support lies at $44 area and resistance at $48 region.
Natural Gas –
- Natural gas remains under pressure despite lower gas injection report this week. It is up for the day but down for the week. Today’s range $2.88-2.93
- Active Call -Bear trend would push it towards $2.69 per MMBtu
- Natural Gas is currently trading at $2.91/MMBtu. Immediate support lies at $2.84 area & resistance at and $2.96
WTI |
-4.34% |
Brent |
-4.13% |
Natural Gas |
-3.73% |
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