Energy pack is down in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- Oil reversed course today as Saudi oil minister suggests export curb and capping Nigerian output at 1.8 million barrels per day. Today’s range $48.5-48.9
- Active call – Buy targeting $56 per barrel
- WTI is currently trading at $48.7/barrel. Immediate support lies at $45 area and resistance at $52 area.
Oil (Brent) –
- Brent is up in line with WTI this week. Today’s range - $50.5-51.3
- Brent is trading at $2.2 per barrel premium to WTI. Likely to widen further in the medium term.
- Brent is trading at $50.9/barrel. Immediate support lies at $48 area and resistance at $54 region.
Natural Gas –
- Natural gas is the worst performer of the week, trying to form a base around $2.9 area. 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 $2.91/MMBtu. Immediate support lies at $2.92 area & resistance at and $3.1
WTI |
+6.40% |
Brent |
+6.06% |
Natural Gas |
-1.15% |
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