Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price struggling to move higher as Russia and Saudi Arabia considers cap easing to the tune of 1 million barrels per day and as U.S. production continues to rise. The focus is on Friday’s OPEC meeting. Today’s range - $64.6-$65.9
• WTI is currently trading at $64.9/barrel. Immediate support lies at $61 area and resistance at $67 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $75.4-74.5
• Brent is trading at $10.1 per barrel premium to WTI.
• Brent is trading at $75/barrel. Immediate support lies at $72 area and resistance at $77 region.

Natural Gas –   

• As expected the Natural faced sellers above $3 area. Today’s range $2.96-$2.89
• Natural Gas is currently trading at $2.90/MMBtu. Immediate support lies at $2.85 area 8& resistance at $3.10