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 - $70.8- $72.4
• WTI is currently trading at $72.2/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 - $81-78.7
• Brent is trading at $8.5 per barrel premium to WTI.
• Brent is trading at $80.7/barrel. Immediate support lies at $78 area and resistance at $85 region.

Natural Gas –   

• The natural gas price is testing the sellers around $3 area. Today’s range $2.95-$3.04
• Natural Gas is currently trading at $3.02/MMBtu. Immediate support lies at $2.84 area & resistance at $3.10