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 - EconoTimes)
Energy pack is trading in green today. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI is sharply gaining today as risk appetite improved sharply. Today's range $38.8-42.3
- Global equities rally and hope of higher growth in US provided additional boost.
- WTI is currently trading at $41.9/barrel. Immediate support lies at $35 area and resistance at $43 area.
Oil (Brent) -
- Brent rose along with WTI on global risk recovery. Today's range - $43.6-46.9.
- Brent-WTI spread rose to $4.6/barrel. Further rise is likely.
- Brent is trading at $46.4/barrel. Immediate support lies at $40 area and resistance at $48 region.
Natural Gas -
- Natural gas continues to find resistance around $2.7/mmbtu and likely to drop further, unless resistance cleared. Today's range $2.72-2.63.
- Price likely to drop to $2.35/mmbtu, since support cleared.
- EIA report showed inventory rise of 69 billion cubic feet, higher than prior 53 billion cubic feet.
- 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 |
+2.44% |
|
Brent |
+2.43% |
|
Natural Gas |
+0.4% |
