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 sixth consecutive week dogged by a supply glut in the market despite supply shrinkage by OPEC. Further declines likely. Today’s range $43.1-43.7
- WTI is currently trading at $43.4/barrel. Immediate support lies at $42 area and resistance at $45 area.
Oil (Brent) –
- Brent is up in line with WTI today. Today’s range - $46.3-45.6
- Brent is trading at $2.5 per barrel premium to WTI. Likely to widen further in the medium term.
- Brent is trading at $45.9/barrel. Immediate support lies at $44 area and resistance at $48 region.
Natural Gas –
- Natural gas is the best performer of the day. Today’s range $3.01-2.91
- Active Call -Bear trend would push it towards $2.69 per MMBtu
- Natural Gas is currently trading at $2.99/MMBtu. Immediate support lies at $2.84 area & resistance at and $2.96
WTI |
+1.16% |
Brent |
+0.44% |
Natural Gas |
+2.40% |
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