Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is in decline as Iraq and Kurdish conflict fails to lead to a supply crunch in the region. Today’s range $51.8 -50.8
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $51.1/barrel. Immediate support lies at $49 area and resistance at $53 area.

Oil (Brent) –

• Brent is down in line with WTI today but remains elevated over higher demand. Today’s range - $56.6-57.6
• Brent is trading at $5.8 per barrel premium to WTI.
• Brent is trading at $56.9/barrel. Immediate support lies at $54 area and resistance at $59 region.

Natural Gas –   

• Natural gas continues its consolidation in a narrow range. Today’s range $2.86-2.92
• Natural Gas is currently trading at $2.90/MMBtu. Immediate support lies at $2.75 area & resistance at and $2.96

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