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Commodities snapshot (energy)

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

Oil (WTI) –

  • Oil price remains elevated as President Trump moves the U.S. out of the Iran deal. However, struggling as the dollar gains. Today’s range - $72.4-$72.8
  • WTI is currently trading at $72.5/barrel. Immediate support lies at $68 area and resistance at $74 area.

Oil (Brent) –

  • Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $79.9-79.3
  • Brent is trading at $7.1 per barrel premium to WTI.
  • Brent is trading at $79.6/barrel. Immediate support lies at $75 area and resistance at $82 region.

Natural Gas –   

  • Natural gas is continuing its recovery after finding support around $2.5 area. Today’s range $2.81-2.85
  • Natural Gas is currently trading at $2.84/MMBtu. Immediate support lies at $2.62 area & resistance at $2.85, and $2.90

WTI

        +1.68%

Brent

         +1.27%

Natural Gas

         +0.32%


           

 

 

 

 

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