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 - EconoTimes)
Energy pack is trading in consolidation with downside bias today. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI is down today after gains yesterday. Today's range $38.5-39.8
- EIA report showed drop in inventory by 5.5 million barrels.
- WTI is currently trading at $39/barrel. Immediate support lies at $35 area and resistance at $43 area.
Oil (Brent) -
- Brent dropped along with WTI, however volatility remains relatively low. Today's range - $43.8-42.8.
- Brent-WTI spread dropped to $4.2/barrel.
- Brent is trading at $43.2/barrel. Immediate support lies at $40 area and resistance at $47 region.
Natural Gas -
- Natural gas finding resistance around $2.7/mmbtu and likely to drop further. Today's range $2.72-2.67.
- Price likely to drop to $2.35/mmbtu, since support cleared.
- Natural Gas is currently trading at $2.69/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.75, $2.95, $3.04, $3.32.
|
WTI |
-4.65% |
|
Brent |
-4.64% |
|
Natural Gas |
+0.41% |
