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Commodities snapshot (energy)

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

Oil (WTI) –

  • Oil price remains elevated despite higher supplies from OPEC, Russia and the United States as inventory declines and Iran sanctions weigh. Today’s range - $69- $70.8
  • WTI is currently trading at $70.6/barrel. Immediate support lies at $64 area and resistance at $72 area.

Oil (Brent) –

  • Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $78.1-79.4
  • Brent is trading at $8.5 per barrel premium to WTI.
  • Brent is trading at $79.1/barrel. Immediate support lies at $73 area and resistance at $79 region.

Natural Gas –   

  • The natural gas price is heading higher to test the sellers around $3 area. The best performer of the week as the range trade continues. Today’s range $2.76-$2.95
  • Natural Gas is currently trading at $2.92/MMBtu. Immediate support lies at $2.72 area & resistance at $2.93

WTI

         +2.32%

Brent

         +1.28%

Natural Gas

         +5.65%


           

 

 

 

 

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