Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price struggling as confusion remains over actual production rise as multiple parties suggest multiple numbers and as U.S. production continues to rise. Today’s range - $68.1-$69.4
• WTI is currently trading at $69.1/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 - $73.7-75.7
• Brent is trading at $5.2 per barrel premium to WTI.
• Brent is trading at $74.3/barrel. Immediate support lies at $72 area and resistance at $77 region.

Natural Gas –   

• Natural gas testing sellers around $3 area. Today’s range $2.95-$2.89
• Natural Gas is currently trading at $2.92/MMBtu. Immediate support lies at $2.85 area 8& resistance at $3.10