Energy pack is mixed in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Oil is up today as Saudi oil minister suggests export curb and capping Nigerian output at 1.8 million barrels per day. Today’s range $47-46.4
- Active call – add short positions to the existing short call targeting $38 per barrel.
- WTI is currently trading at $47/barrel. Immediate support lies at $42 area and resistance at $48 area.
Oil (Brent) –
- Brent is up in line with WTI this week. Today’s range - $48.6-49.3
- Brent is trading at $2.4 per barrel premium to WTI. Likely to widen further in the medium term.
- Brent is trading at $49.3/barrel. Immediate support lies at $46 area and resistance at $51 region.
Natural Gas –
- Natural gas is the worst performer of the week. Today’s range $2.93-2.89
- Active Call -Bear trend would push it towards $2.69 per MMBtu
- Natural Gas is currently trading at $2.92/MMBtu. Immediate support lies at $2.92 area & resistance at and $3.1
WTI |
+2.69% |
Brent |
+2.73% |
Natural Gas |
-0.95% |
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