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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 is correcting as OPEC production rose by 0.32 million barrels in June.  Today’s range - $67.3-$68.4
  • WTI is currently trading at $67.4/barrel. Immediate support lies at $67 area and resistance at $75 area.

Oil (Brent) –

  • Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $71.3-72.4
  • Brent is trading at $4.5 per barrel premium to WTI.
  • Brent is trading at $71.9/barrel. Immediate support lies at $70 area and resistance at $79 region.

Natural Gas –   

  • Natural gas heading sharply lower as the bulls fail to clear resistance around $3 area. Today’s range $2.75-$2.79
  • Natural Gas is currently trading at $2.76/MMBtu. Immediate support lies at $2.72 area & resistance at $2.92, $3.10

WTI

        -5.07%

Brent

         -4.52%

Natural Gas

         +0.44%


           

 

 

 

 

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