JPMorgan Cuts Gold Price Forecast, Sees Bullion Reaching $4,500 by End of 2026 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Alcohol is one of the most dangerous drugs, yet its presence is ubiquitous in social settings and celebrations 
Bernstein Names IAG, Ryanair as Top European Airline Stocks Ahead of Earnings 
In a rebuke to Trump, the Supreme Court rules that birthright citizenship is the law of the land 
Smartphones are helping filmmakers tell the stories the movie industry overlooks 
State of emergency in Crimea as Ukraine focuses pressure on ‘jewel in Putin’s crown’ 
Trump has made more than $1 billion from crypto in a year. How? 
 - EconoTimes)
The energy segment over the last year remained the worst performer. Performance this week at a glance in chart & table -
- Oil (WTI) - Crude oil price remained depressed and continuing its whipsaw movement after last night's inventory report showed that stock built up at 8.4 million barrels were much larger than expected. WTI is currently trading at $49.4/ barrel, down 3% for the day. Immediate support lies at 48 and resistance at 54.
- Oil (Brent) - Brent remained the top performer as demand outlook improved and supply glut is now becoming more of an USA phenomenon. Brent-WTI spread has broken above $10 and currently trading close to $12. Further gain seems to be ahead. Brent is currently trading at $61.2/barrel, down 0.8% for the day. Immediate support lies at 58 & resistance at 63.
- Natural Gas - Natural gas is the worst performer in the segment and continues to decline amid higher production and lesser demand due to weather improvement. Today's inventory data showed stock drop was lower than expected at 219 billion cubic feet. Natural gas is currently trading at $ 2.72/mmbtu. Immediate support lies at 2.66 & resistance at 2.88. Prices could decline over the summer and even below $2/mmbtu.
|
WTI |
-2.87% |
|
Brent |
2.06% |
|
Natural Gas |
-7.59% |
