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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 likely to rise as OPEC production is moving lower fast. According to Platts’ survey, production declined by more than 0.6 million barrels per day.  Today’s range - $50.6- $52
  • WTI is currently trading at $51.8/barrel. Immediate support lies at $48 area and resistance at $54 area.

Oil (Brent) –

  • Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $59.1-60.5
  • Brent is trading at $8.4 per barrel premium to WTI.
  • Brent is trading at $60.2/barrel. Immediate support lies at $56 area and resistance at $62 region.

Natural Gas –   

  • The natural gas price is rising in January after crashing in November. Likely to find support around $3.75 area. Today’s range $3.51 -$3.72
  • Natural Gas is currently trading at $3.53/MMBtu. Immediate support lies at $3.2 area & resistance at $4.1    

WTI

         +0.39%

Brent

         -0.50%

Natural Gas

          +12.06%


           

 

 

 

 

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January 31 00:00 UTC 771344771344m

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January 31 00:00 UTC 771344771344m

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2016 bln ARS

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Bln AR bln ARS

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