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Commodities snapshot (energy)

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

Oil (WTI) –

  • Oil price is moving down despite Middle East tensions as inventories continue to build amid sharply higher production. In addition to that, the United States’ granting of sanctions waiver to several countries like China, India, and Korea are weighing on price. Broad trend is still bullish. Today’s range - $57.5- $53.6
  • WTI is currently trading at $54/barrel. Immediate support lies at $56 area and resistance at $62 area.

Oil (Brent) –

  • Brent remains elevated over WTI due to higher demand, geo-political tension and OPEC agreement. Today’s range - $68.4-66.6
  • Brent is trading at $9.8 per barrel premium to WTI.
  • Brent is trading at $63.8/barrel. Immediate support lies at $63 area and resistance at $68 region.

Natural Gas –   

  • The natural gas price remains elevated over harsh winter temperatures on the East Coast. Today’s range $4.36 -$4.68
  • Natural Gas is currently trading at $4.52/MMBtu. Immediate support lies at $4 area & resistance at $5.44

WTI

         -4.76%

Brent

         -4.49%

Natural Gas

         +3.78%


           

 

 

 

 

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